Aud-jpy
AUDJPY testing a 4h structure AUDJPY on the daily chart, retrace from the previous high, until the 75 level.
Market starts a range move but couldn't break below.
Currently, the price is testing the 76 level and if the price will manage to break and close above it we can set a nice long order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
AUDJPY Short PositionI have entered a short position on AUFJPY for the following reasons:
4 hour fib retracement to the 78.6% area, which has previously been a good area of resistance
There is the formation of a double top at this 78.6% area, enphasising the potential for a downward push
A glance at the 4H linear regression shows that price is currently above the mean and also shows a downward bias
My take profit has been set at the 0% fib level, which has been a strong area of support.
This trade gives a solid risk/reward ratio of 4.26.
AUD/JPY Bouncing at the Weekly Channel🔸 WEEKLY CHART EXPLANATION:
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🔸On the Weekly Timeframe, we can observe that price has been moving on a Descending Channel since 2015.
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🔸Now, it has bounced at the upper trendline, making a lower high.
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🔸We consider that this pair has potential to make a downside move towards the Support Zone.
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🔸 Will look for a lower timeframe bearish setup.
🔸 DAILY CHART ANALYSIS:
AUDJPY testing sell entry , further drop expected !AUDJPY is testing the descending trendline and the sell entry , further drop expected !
Thanks everyone for tuning in to today's analysis . If any part of this video is unclear, please ask me for in the comment section below. If you found today's video useful in any way, please "like" this video and leave a comment on what currency pair you'd like me to analyze next too.
Until next time, see ya!
AUDJPY reversing from 1st resistance, further drop expected!
Description :
AUDJPY reversing from 1st resistance where the horizontal swing high ,78.6% fib retracement and 78.6% fib extension are. Stochastics also show that price is reaching resistance.
Trading Recommendation
Entry: 75.867
Reason for Entry:
horizontal swing high ,78% fib retracement and 78.6% fib extension
Take Profit: 75.296
Reason for Take Profit:
61.8% fib retracement
Stop Loss: 76.416
Reason for Stop Loss:
127% fib retracement
AUDJPY Daily Analysis October 4th, 2020AUDJPY Short idea
Weekly Trend: Bearish
Daily Trend: Bearish
Trade scenario 1: Price action continues with the bearish break and forms a lower high below our daily structure. Look to enter short on strong bearish setups, target lower toward key support and negative fib levels.
Trade scenario 2: Price action reverses and breaks through our monthly resistance at 76.500. Look for a confirmed higher low followed by strong bullish setups to enter on.
AUDJPY can test the monthly support? 🦐AUDJPY on the daily chart hit the ema and turn back for a possible new bearish leg.
On the 4h chart the price hit the 0.786 fib retracement over a daily resistance.
IF the price will manage to break and close below the 4h structure we can set a nice short order according to Plancton strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
AUDJPY testing sell entry , further drop expected ! AUDJPY is testing the descending trendline and the sell entry , further drop expected !
Thanks everyone for tuning in to today's analysis . If any part of this video is unclear, please ask me for in the comment section below. If you found today's video useful in any way, please "like" this video and leave a comment on what currency pair you'd like me to analyze next too.
Until next time, see ya!
AUDJPY 4hour Analysis September 27th, 2020AUDJPY Short idea
Trend: Bearish
Trade scenario 1: Price action pulls back to form structure at the 38.2% fib level and key resistance zone (75.00). Look for a confirmed reversal at this level and enter on strong bearish setups. Target lower toward key support and negative fib levels.
Trade scenario 2: Price action breaks resistance at 75.00 and forms a higher low confirming a 4hour transition. Look to enter long on strong bullish setups confirming the higher low. Target higher toward key resistance.