MatildaK
Short

Channel bounce, Trend trading

FX:AUDJPY   Australian Dollar / Japanese Yen
Price is moving in a downtrend channel (between 2 descending trendlines on H4 timreframe). Price has reached top of the channel and is likely to bounce off. RSI is in overbought area showing price is ready to head back down. There is also a formation of a rising wedge , suggests continuation of downtrend.
Trade closed: stop reached: Price has hit SL. Because price has broken trend line, I am expecting a pullback to come retest trend line before proceeding upwards. Price is also in an uptrend on Daily timeframe.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out