Looking Into the eyes of AUDJPY longterm short or nah
Updated
Hey guys, looking at basic price action and fractals. I feel as if we have a prime opportunity for a short position. looking to take profits at 77.69.
Using Fractals we can clearly identify bearish trend following lower highs and lower lows. Connecting our lower highs using the angle trend line we can now gauge the strength of the trend any angle between 30 and 45 degrees is a consistent trend.
AUDJPY
Using Fractals we can clearly identify bearish trend following lower highs and lower lows. Connecting our lower highs using the angle trend line we can now gauge the strength of the trend any angle between 30 and 45 degrees is a consistent trend.
AUDJPYNote
I was incorrect about the measured angle, it is actually 20 degrees which will actually cause the down trend to reverse. 0-30 degrees angle is bullish
45+ degree angle is bearish
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