Base on the 1-hour chart price action there we have a possible selling opportunity for intraday (day) traders. But the main scenario is looking for buying opportunities in the latest structure zone. fundamental: ausi is extended its lockdown until September end & Sydney flooding with protestors.
PRICE now testing daily order block & 4 hour supply zone. short order will place ones brake 1 hour Trangle.
After price push lower new we can see nice corrective wave. waiting to price push to supply area & we will take short entry.
Price is now heading to previous support area. 30 pips SL for 200 pips PROFITS. Last week took short position & its almost in tp level. previous analysis in linked below
Price making nice FLAG pattern & trying to brake upper trend line . entry will place after retest.
price is now trying to brake wedge pattern. accept price will brake upside. entry will place after retracement complete or if 15 minit chart price brake wedge upper trend line.
after creating head & shoulder pattern now price brake down thru neck line. entry will place retest of neck line
overall price pushing lower. accept price push another leg lower at-least next possible support area.
last few weeks we saw down side correction pattern and (wedge) & price brake above it. after brake impulsive wave price make some correction & now with in fib 50 - 61 % area price bouncing now. accept price push higher.
For long time this pair selling off thru channel. I accepting another leg down.
PRICE STAYING DOWN SIDE. DAILY CHART PRI CLEAR REJECTED BY RESESTANCES ZONE
WITH IN DAILY CHART PRICE STARTED TO PUSH HIGHER AFTER CORRECTION WITH IN FIB LEVELS. IN 4 HOUR CHART STILL ROOM TO TAKE ENTRY FOR RESENT HIGH.
accepting some bear pressure within this area. 100% technical outlook. even i didn't look at news releases. do your own analysis before any kind of entry.
last week price setup for reversal pattern. accepting this week price reverse and continue uptrend.
as we can see AUDJPY now turning to short (sell) side. accepting price push lower. technical analysis only. (only for educational use).
my main entry strategy BROKEN & RETESTED TREND LINE. just for testing ORDER BLOCK STRATEGY. will see how its going to play out.