FX:AUDJPY Safe Trades;
This is looking Nice Short Here Breaking out lows with volume and lot of room left to go onto the downside i am quite happy with this trade here hope to see fast move down. Trade is active and let us see how fast it drops towards lows i am not seeing any bull pressure here by the way.
FX:AUDJPY Safe Trades;
AUD/JPY has been in a downtrend on the 4H chart for the last 3 weeks, the down channel being a corrective structure of a bigger uptrend. Now we are looking on the price breaking out of the channel, suggesting a changing in forces on the market towards bulls side. Long positions will be initiated if the price re-tests the downtrend channel or broken support...
Waiting to buy at yellow zone. I think it is a strong support as it is a monthly support.
2 equal waves down would be at 78.247 but may see support at 79.00. Looking for longs in those areas.
Date: Wed July 13th, 2016 5.36 AM (EST) AUD/JPY : CMP: 79.640 Long AUDJPY @ 79.480 - 79.640: Target: 80.500/81.550 Stop loss @78.900 Time frame: 1-2 days
It goes against the grain of current market rhetoric but the large Bullish Bat has hit it's lowest target (75.764) & showed a good reaction from it (as well as the other major points in the PRZ including a 161.8% ext.). RSI (14) shows bullish divergence potential here as well as this new low in price is not matched with a new low in RSI. The last 3 pivot lows are...
Gartley pattern on 1H - I will be positioning myself long, hoping to ride price as it pushes towards the gartley pattern's D point. Minor resistance around 76.285. A break of this minor resistance to the upside will be confluence that price is heading to the gartley pattern's D point. I also use ichimoku to filter my trades, we have a bullish kumo cross which...
A huge BAT pattern has been formed + A trend line has been tested. Good structure suggests strong support now. Anticipate the price to move up to 86.894 level. If this happens it comply with the related analysis with USDJPY, which has potential reversal also.