Multiple Time Frame AUDJPY SHORT
- Weekly Time Frame
Price retested the former low on the weekly timeframe, and met resistance
Price also respected the 61.8 fib level
Price formend a shooting star/bearish hammer candlestick patternDaily Time Frame
-Thursday candle closed as an indecision candle (showing the possible rally was coming to an end.
-Friday candlestick was a large bearish candle further confirming the end of the rally and retesting the double top
- waiting for price to pull back and then i'll enter a short4 Hour Time Frame
-Price ended with an indecision candle after a strong move to the downside
-I'm expecting a short lived rally to the 69.20-69.50 area, that's where I have a sell order placed.
AUDJPY also has a strong positive correlation with SPXUSD and i'm also bearish on that (check my SPXUSD idea, posted yesterday)
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