Daily structure & Double bottom. AUDJPY long coming?
Hi guys,
this is what i'm looking at this morning: as you can see on the left hand side of your screen (daily chart), price is having rough times breaking through 84.50 level. Looking back in the past, you can see this level has played both a role of support and resistance and this is telling us that it could act again as support. As a confirmation, i went down on lower timeframes (right-hand side: 4H) and i've noticed a double bottom formation that's setting up, along with an RSI divergence that's usually a good sign of reversal. I'm ready to enter this market but i'm waiting for stronger push to definitely go ahead and place an order. I'll keep you updated.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
this is what i'm looking at this morning: as you can see on the left hand side of your screen (daily chart), price is having rough times breaking through 84.50 level. Looking back in the past, you can see this level has played both a role of support and resistance and this is telling us that it could act again as support. As a confirmation, i went down on lower timeframes (right-hand side: 4H) and i've noticed a double bottom formation that's setting up, along with an RSI divergence that's usually a good sign of reversal. I'm ready to enter this market but i'm waiting for stronger push to definitely go ahead and place an order. I'll keep you updated.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
Comment:
Price is still too weak for me to enter. Order awaiting