coondawg71
Long

AUDJPY; Aussie Yen, Time for a Change in Trend, 12hr bars

FX_IDC:AUDJPY   Australian Dollar / Japanese Yen
Here I was working on some time expiration detail on the Aussie Yen. We have an obvious trend change coming due in the next bar or two(next week). Price is about to converge on the 1.618 lower pitchfork deviation barrier along with a Fib Time Expansion expiration of 6.18.


Update: 02/02/2015 Price moved pretty much as expected, after a gap down to show heavy selling remained in this market, price reversed to a bullish sentiment. But price did not drop as much as I thought it may, Pitchfork deviations held price action very well, better than expected so ideal entries were not filled. Note price did react to time barrier of Fib Time extension.
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coondawg71 coondawg71



Pitchfork 2.0 deviation offered nice support for the current candle which expires quite soon, 40 mnutes. Price has been contained by the breakout deviation of 1.239 on the topside (green line) and the 2.0 below (blue line) . A close above the 1.618 (yellow line) should prove to be bulllish and the targets are in play.
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coondawg71 coondawg71


zoomed in.
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