AUDJPY 4hour Analysis October 24th, 2021
AUDJPY Neutral idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are extremely bullish and overextended. Ideally we want to continue with the trend so we will wait for a pullback to spot structure formation.
We will catch the continuation of the very strong daily bullish trend right after.
Trade scenario 2: Because price action is so over extended we can actually spot a nice short opportunity on the potential retracement to 83.250.
Look for rejection of resistance right now near 85.000 to enter short on.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are extremely bullish and overextended. Ideally we want to continue with the trend so we will wait for a pullback to spot structure formation.
We will catch the continuation of the very strong daily bullish trend right after.
Trade scenario 2: Because price action is so over extended we can actually spot a nice short opportunity on the potential retracement to 83.250.
Look for rejection of resistance right now near 85.000 to enter short on.
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