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After making another touch on the trend line and testing support, a break would be a good opportunity to go short, first target at 83, 38% retracement.
Stop above the recent swing give a good risk-reward.
We are looking to the short the AUD JPY
waiting for bearish confirmation
AUDJPY has formed a bearish flag and also has also hit trend line and reversed showing signs of downwards movement
i've been looking at this pair for a long time now. First, i've missed an opportunity to go long at the 82.00 level. Then, i saw price climbing up toward what would've been our potential target for a big pattern that was completed on the higher timeframe, namely the daily tf. Now, price has touched the 38.2 level of the bigger leg and has shown some ...
As the setup suggests.
explanation will come after trade has met or missed.
want to see a clean push through this amazing level, hoping Japanese CPI result can push it down cleanly. looking for a retest at the level
Engulfing takes out full range of previous spike candle/gravestone doji. Pending order set to take a 2:1 profit at the lower resistance where it gets a bit wicky.
this is a retest of a daily resistance zone that could stop price's rally and push it lower. Along with structure we have a double top setting up with RSI divergence and an engulfing candle right at the retest point. Finally there's also a Bat pattern already completed that further adds up to the list of the clues. Stops above highs, targets as ...
Sell below 85.06. Stop loss at 05.25. Take profit at 84.38.
Reason for the trading strategy (technically):
Price is approaching major resistance at 85.06 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level for a drop to at least 84.38 support (Fibonacci retracement, horizontal overlap support).
Confluence of 1) horizontal support 2) 33.2 fib acting as resistance at 83.750 and nice daily bearish candle building up
Good risk reward. Short at 83.55 giving it 30pips
A close above 83.75 indicates going higher possibly 84.50 where there is a confluence of horizontal resistance and 50.0 fib.
here on AUDJPY we're sitting on a very important structure level that i think could stop price from getting higher and also provide some nice selling opportunities. In fact, i'm already decided to short it since price action showed us some weaknesses on both 1hr and 4hr chart. Stops would go above the highs, target1 at 1:1 RR at least, target2 to be ...
i don't usually trade in these lower timeframe, but this time i think it could be a nice level to short. The blue line represents a previous level of structure, and price has created new lows breaking through that level. So i'm thinking it could turn into resistance and hold the price's rally.
Stops above X, targets as usual for harmonic patterns.
another chance to get involved in this pair today. It comes from an harmonic pattern that's completing right now. It is called Bat pattern and it implies a limit order set at the D point. Stops above X, target with .382 and .618 retracements of AD leg.
Let's see if we get filled.
If you have any question, feel free to ask beneath.
Otherwise, see you in ...
just wanted to show you how top down analysis can create day trading opportunities. I fully explained in my previous idea (attached beneath) why i'm expecting price to reach 85,50 level (reversal zone) so i can go with the trend assuming it will stop there.
Here we have a simple pattern formation that usually occurs in trending markets, formed by an ...
After a section of market value I'm looking at a break of swing around 86.388 and continue towards the target down towards the 83.000 psychological level il be leaving the trade before 84.199 support.
Audjpy trading around 87.13 on 4H its formed Bat pattern if hold below 87.7 we can see a drop towards 85.5-86
Advice to sell in range of 87.1-87.4 sl above 87.7 TP 85.8
Continuous rejection from resistance level - short to 84.006