"AUDJPY is in a downtrend, retraced for 10 weeks into the weekly supply, and formed a 4-hour choch. Currently reacting at the Fibonacci 0.618 zone. Took the trade after a 15-minute confirmation. Let's see how it unfolds! #ForexTrading #AUDJPY #TechnicalAnalysis"
For the past few weeks, the EU has been on a downward trend, heading towards the previous weekly demand. Yesterday it gave a 4 hour BOS, and today being Friday, the pair has returned to the 50% PD range (I caught the buy into the PD range). In the process, it cleared 15 minutes of liquidity. Zone, and I'm hoping for it to tap into the 15-minute supply for a sell....
after the bulls rested for a few day it seems they are back, Its a Monday morning a not so good day to be fishing for pips, however the rules states trade your set up so lets look in to this. if you intend to take it do so with proper risk management
lets see how the market plays out by Monday, I'm more on the buy side because this pair is still bullish. we might see a bit of correction however you should stay true to the trend #follow_the_trend
After a significant negative movement in line with the sell continuation from the 160.615 zone, the price made a positive reversal as it reached the fib 1.27 zone (155.848) After the market reaches the 3-hour zone, I anticipate a bearish continuation (157.700)