AUDJPY setting up nicely for a SELL 🎿
HTFs - From daily down to 1H, price has been corrective for weeks and has formed an ascending expanding formation. Weeks prior, there was heavy bearish momentum which is clear when zooming to higher time frames |
LTFs - Internal structure is clean with a middle section showing wave behaviour. Clue is the ascending channel at the end of the structure with the 123 formation
ENTRY - One my favourite pairs to trade. Have been waiting patiently for this to reach an area of value which will be once the high is broken and price begins to show deceleration and a rejection at outer structure. Otherwise will be waiting for the market to show signs of reversing. If none of the above then no trade for me
LTFs - Internal structure is clean with a middle section showing wave behaviour. Clue is the ascending channel at the end of the structure with the 123 formation
ENTRY - One my favourite pairs to trade. Have been waiting patiently for this to reach an area of value which will be once the high is broken and price begins to show deceleration and a rejection at outer structure. Otherwise will be waiting for the market to show signs of reversing. If none of the above then no trade for me
Comment:
Still patiently waiting for this to set up. I'll be looking for an entry before the week is out
Trade active:
Short entry triggered
Trade closed: stop reached:
Break Even