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AUDJPY potential head and shoulders pattern
waiting for price to break above neckline to go LONG
this is a crucial zone on AUDJPY and i was monitoring this specific price level because we've had multiple structure points on the daily.
Therefore i was looking for a buying opportunity, since the overall trend is bullish. When i went on the hourly chart i noticed a double bottom formation followed by a break of structure to the upside.
This gives me ...
one of my usual analysis here. The blue box you see on the chart is a support zone drawn on the daily timeframe. That's important because i knwo that i'm looking to long as long as we are in the structure zone, not above, not below. And it is also important to place the right stop loss limit, for i know i'm wrong as soon as price breaks to the ...
i want to share with you this analysis i've made on audjpy. In the bigger picture (daily timeframe) price has recently broke and closed above a structure resistance, signaling the intention to go higher. Assuming that, i'm now looking for long opportunities down on lower timeframe (such as the 4H). Here we can see price is pulling back into the previous ...