Good morning traders.
Today on FX:AUDJPY we have a potential bearish bat pattern on daily chart, which should complete @91.32 level. Stops should go above the red zone and our targets will be fibs 38.2 and 61.8. Watch the structure level 89.4, it is really nice resistance which could be hold.
Avto_T
Green...
Market is just ended Elliott Waves correction pattern abc and got in to strong resistance zone. If the bulls will be weak continuation of Elliott impulse wave pattern short is expected. Fibonacci 38.6% level of last price swing is in the middle of resistance, as a confirmation of strong zone. We can see two strong support zones.
Here is a very nice shorting opportunity. Bullish gartley with several confirmations:
1. weekly pp
2. 200MA
3. structure resist
We have a very nice R/R for both targets. Both targets have structure backup if we look left.
Avto_T
Green Luck
---------------------------------------------
ATTENTION : Very soon, the best forex services will be available for you...
FX:AUDJPY
BEARISH CYPHER: - IF completed, still validating the Shark point C
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
BULLISH SHARK:
Point B:
61.8% XA
Point C:
113% to 161% AB
Point D:
161% to 224% BC
88.6% to 113% XC
Target:
38.2% to 100% CD
Safe trades;
Summary:
All signs are pointing to a significant breakdown in the AUD/JPY...
Commodity currencies are under extreme pressure due to a global slowdown and suppressed commodity prices.
In an extremely volatile and high risk market, investors will fly back into the Yen as a safe haven and dump commodity currencies.
We also have upcoming rate cuts coming out of...
POTENTIAL COMPLETION OF XABCD PATTERN ON AUD/JPY, WITH THE COMPLETION LEG FINISHING ON THE 0.382 RETRACE OF LONG TERM SWING HIGH/SWING LOW.
A BEARISH REVERSAL CANDLE ON 30M TIME FRAME MAY ADD TO FURTHER CONFIRMATION OF SHORT TERM SELLING, WITH THE 91.30 HANDLE ACTING AS STRONG STRUCTURE RESISTANCE.
DAILY SUPPORT ACTS AS A NICE POTENTIAL PROFIT TAKING AREA, SHORT...
EDIT : THE MENTIONED PIN BAR IS YESTERDAY'S PIN BAR D1. SORRY FOR THE CONFUSION THERE.
price went below the pin bar
triggering sells
while market maker
are loading their buys
because of the
resistance turned support
simple analysis.
this is the market trying to
stop out new traders.
which they did
successfully.
this bull may run out of steam
at the 61.8% or...
ENTER THIS TRADE FOR GREAT RISK REWARD. PRICE REJECTED FROM 93.26 LAST WEEK FORMING A MINI D1 PIN BAR.
IT IS MINI BUT ON THE LARGER SCALE IT WAS ALSO REJECTED FROM THE WEDGE PATTERN.
TRADE THE WEDGE FROM THE TOP TO THE BOTTOM, OR AT LEAST TO THE 20SMA BEFORE UPTREND MAY CONTINUE.
H4 RSI DIVERGENCE
GOOD RISK REWARD
RISK 30PIPS TO MAKE 90 PIPS
QUICK IN QUICK...
We might have a bat pattern forming on AUDJPY.
Remember that a bat pattern has:
XB is a .382 or a .500 (unfortunately in this case we're over a .500...)
AC is is a .382 or a .886 (we're just above at a .906 here...)
BD is a 1.618 or 2.618 (we'll be just under at the 1.426s)
XD is a .886
and If you zoom out of the chart and look left you'll see we have a little...
If you missed the first train southbound as I wrote some days ago, maybe you can get a second chance; price has been rejected exactly at 93.00 so we might see a further weakness in the coming days. Drilling on a lower time frame respect to my former analysis, we can see how the pair is consolidating in a lateral congestion and we can easily identify a resistance...
