The trend line has been respected since the 23rd of November 2016. I will set my order when it touches the trend line but ONLY if it doesn't break it but respects it. I will then leave my order and hold it till around the 87.500 levels.
today i want to bring you some pure technical analysis. As you can see on the chart above, i've written down some simple rules. As a trend continuation trader you want to follow the major trend: in order to do so having the big picture is key. The break of structure you see here is in fact a multitimeframe break of structure, since we've also broken the...
I think that the market is going to drop due to the reason that the market has hit a monthly resitance, which has held before and it can be see to the left of the market. the reason why im going bearish is because of the double tops on the daily and then the one on the hourly. looking left with FIbs the first profit targets is the 3.82 ratio
AUDJPY has been consolidating in a Box for 10 weeks now and started to form a Wedge inside that box in the last 5 weeks.
The pair will thus probably give a good breakout soon in one of the two directions with different level of Targets.
Patience required to plan the setup.
Based on a long term down trend, we are waiting for confirmation of the down side to continue and take a short trade. It is a conservative trade, and could be taking on the bounce of down-trendline, however waiting for confirmation should increase odds, but also decrease reward.