How to make a Top/Down Analysis? Full Explanation on AUD/JPYGood morning traders!
We want to share how we carry out a complete top and bottom analysis to look for an opportunity to enter a trade.
Step number one is to go to a high timeframe. In this case, we begin by analyzing the Weekly Chart.
🔸What do we observe here?
🔸The first thing we see is that the price is in a bearish channel since 2014. Every time the price retested the Descending Trendline, it was rejected.
Right now the same thing is happening, so we can consider a potential bearish move, at least in the short term.
🔸Obviously, we need more confirmations.
🔸For this, we reduce the timeframe to 4H, and look for the most relevant support and resistance zones.
The price is resting in a relevant resistance zone, which supports our bearish view.
🔸And finally, on the one-hour chart, we see that the trend line of the last bullish move was penetrated down after support at Resistance.
Also, there is a corrective move. Considering that the current correction is correcting the first bearish impulse, we can expect a bearish continuation of the same proportion as the first impulse.
🔸All this scenario is valid as long as the Resistance zone is not rotated upwards.
Audjpy-short
AUDJPY in the RESISTANCE zoneFor a long time, the price cannot break through the resistance base consisting of lines and a level.
And this time I expect the price to go down. The target is the support line at 73.32.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
AUDJPY shortSeveral days ago, the price dropped sharply and came to the support line.
Now I expect two actions.
The price will push off and head up. Second, there it will meet a strong resistance zone - consisting of a line and a level.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
AUD/JPY Bearish Analysis🔸WEEKLY CHART EXPLANATION:
.
.
🔸Price is on a downtrend since 2015, making lower lows and lower highs.
.
🔸We can observe that it has bounced at the Descending Trendline.
.
🔸The first target that we are considering is the Support Zone at 70.000.
.
🔸We have an active trade on this pair. Our short trade was triggered after the breakout of the lower timeframe corrective move.
🔸4H CHART ANALYSIS:
AUD/JPY Bouncing at the Weekly Channel🔸 WEEKLY CHART EXPLANATION:
.
.
🔸On the Weekly Timeframe, we can observe that price has been moving on a Descending Channel since 2015.
.
🔸Now, it has bounced at the upper trendline, making a lower high.
.
🔸We consider that this pair has potential to make a downside move towards the Support Zone.
.
🔸 Will look for a lower timeframe bearish setup.
🔸 DAILY CHART ANALYSIS:
AUDJPY SHORT IDEAWell pretty simple, I believe.
I am hoping I have not missed my entry. However, I am bearish on AUSSIE, with my notion that GBPAUD and EURAUD will be long, I am bearish on AUDJPY and AUDNZD. Also bearish on GBPJPY. This is what I have come to know as Fractional Disparity at its finest.
That being said if I'm wrong or my timing is off on one, it is more than likely I am wrong on all, laughs in I hope not.
Need to remember if price is truly bearish it will more than likely not break the previous high.
Following my arrows a nice little H/S is forming. Price will drop significantly to fill the wicks. I expect consolidation and a retest of the bullish trendline before continued movement down.
I have sell limits in place, but I will be watching like a hawk.
I started a blog about my trading journey, my site is no where near done, but I do have a post up. If you want check it out.
fundyourtradingfuture.weebly.com
AUDJPY Possible reversalAUD as the stronger and JPY the weakest currency for the last 3weeks, this pair hit monthly high and now im looking for a correction on this pair, some possible reversal.
Trade setup,
Sell Stop @ 77.220
Profit Target @ 76.750 (47 pips)
Stop limit @ 77.500 (28 pips)
Alternative scenario,
Price close above 77.900, look for further upside as 80.00 a key level.
.. just my thoughts
AUD/JPY Expecting a move down breaking supportYo traders,
AUD/ JPY has moved perfectly rejecting resistance as expected and moving lower as predicted on Aug 16 chart posted here.
I am presently expecting it to break the support and move lower next week. As you can see on daily TF and 4HR as marked on the chart it has formed an Elliot wave pattern (ascending bottom rising). Has already moved past the resistance and broken trend line. expecting to move further down in the Short term.
Please like, support and comment if you like the idea. Share your ideas here too in order to learn from each other.
Thanks
Madtradex
AUD/JPY Expecting a move down towards supportYo traders,
AJ has been in a good uptrend and in need of a correction. Presently expecting it to retest the resistance and then move down towards support .
Lets wait and watch
Please like and support. Share and comment as any feedback is welcome
Thanks
Madtradex
AUD/JPY Double Top🔸 4H CHART EXPLANATION:
.
.
🔸Price did a double top pattern at the Resistance Zone.
.
🔸It has broken the Ascending Trendline, however, it did not start a bearish move after that.
.
🔸 We are waiting for some bearish momentum before considering a bearish trade.
.
🔸 Will look for a lower timeframe bearish setup.
🔸 DAILY CHART ANALYIS: