Recent Weakness in the AUD against the JPY has meant a downturn in the AUDJPY, We've placed a Fibonacci Retracement on the chart and the fib lines match up with previous support and resistance, we'll wait for a pull back up to the 0.236 line to go short, if that line breaks we can still have a chance at the 0.382 line.
This is looking really good rally. Smash through $11,600 next. Looking to see at least two more Williams arrows either one down and one up, or two up like earlier rallies to get there or beyond. Back check it for yourselves.
Unfortunately missed the last supply zone (blue) and thus wont be happy to sell until we test a fresh liquidity zone. Again, looking for 1R on a core position, and will be holding a smaller position for a potential larger move.
Looking for a potential bounce on the first test of this new demand area that preceded that rally. Resting orders placed in the market with small risk (not at my desk!!) but will take this as a 1R trade.
My short-term bias is still bearish. I feel price will fall to at the least close the gap. I'm not confident this is a solid break of this short-term resistance as price has failed to take this level with any real conviction. Price is currently stalling at the 61.8 fib which I mapped out on the 1hr chart for this current retracement.
The ES-Mini has a distinct tendency to bounce off high volume areas on the first re-test. Im watching around here for a reversal pattern - NOTE this is not yet a buy call as no signal has been seen as of yet.
Watching this area closely for signs of buying activity.
We are back at the bottom of the range. Stochastic is oversold (but I only use that for alerts, not entry).
So far the lower part of the range has held fairly steady, and this week we have Eurozone GDP due. But we also have the AUD CPI number due Wednesday, expected to be higher than previous.
LITECOIN could start to see a rise again as the market looks to be slowing around the key support levels around $170.00.
Price looks to be slowing down as it approaches the trend line support which was once resistance. If we see bullish price action here we could look for long
opportunities back into the highs.