Small counter trend opportunity on AudJpy, quite a few inside levels of resistance to be wary of but possible to go higher. If we reach that target zone, I would look to short down for a retest of the lows following our impulse with decent strength shown on the RSI. There is also a decent pattern formation on the 5 min with a double bottom followed by a bullish break.
Divergence is one of the best technical analysis theories. Although not 100%, a very high probability of profitability is well known.
This idea lists most of the instances of divergence on BTCUSD (Coinbase) since $19892 summit of December 2017 on 2H interval.
9 Seasons Rainbow Multiple Time Frames Pattern PRO
Base Time Frame: 2H,...
GBPJPY broke out of a descending trend line last week, exposing the pair to further potential upside movement.
A retest of the trend line may occur before price starts to increase.
On the 4H chart we can see price broke and closed below a short term ascending trend line, opening up possibility for a short term decline in price.
I don't know which way EURUSD is going - as my analysis are time frame dependent and trend-dependent. Plus my crystal ball was broken many years ago, beyond repair! :))
In this screencast, I've reviewed from Weekly down to 15 min time frames. I'm in too much doubt. When in that state of mind, I'm happy to stay out and be left behind to miss loadsah equity or...
This morning I found very interesting this pair.
Let's start from a weekly chart, where I found a triple max ( >> where the arrows are), and a triple refuse from prices to break that level up.
So, today I'd like to look for a short entry, maybe up to the weekly Kijun (>> which could be our very first obstacle on this timeframe).