For currency pair AUDJPY, wait for another pull back. Currently, the currency pair is overextended. The currency pair has been trending in one direction for a long period of time with no significant pullback.
Price has been in an overextended cycle to the upside. We are now beginning to see downtrend structure forming on the 4HR Chart, with lower lows and lower highs. Price has bottomed out at the 80 whole level. Will the channel continue to be respected?
Price is overextended. It has to correct to the downside at some point. It has a high probability of retracing from a key level of resistance. simple (overextension bounce trade)
15M chart price has been stretched away from the 50 sma for awhile. Macd over extended ready to cross below Red signal line
BCHUSD 4H FALLING Price is falling back to the home base by the ma's because... Price was stretched far away from ma's. MACD was stretched far away from 0 level line. MACD has crossed below Red signal line indicating possible new direction. Close trade if MACD crosses above Red signal line. Let us know what your ideas are on this pair in the comments.
AUPH I said last night that this could breakout! so I got that right today and nailed the trade, but now the chart is pretty over extended, so i'll be looking for the short tomorrow