PabloSantander

AUD/JPY Ready to retest 88.400?

FX:AUDJPY   Australian Dollar/Japanese Yen
244 17 4
OUTLOOK: Daily Chart

AUD/JPY             is posing some interesting setups. The daily chart displays a textbook rising wedge chart pattern (blue dotted lines),
which AUD/JPY             broke through 5 days ago. So even though the overall trend is bearish , the market is currently in 'Pull back mode'
and is likely to retest the 88.400 area (Red rectangle) before continuing its bear trend.

Note: Keep an eye out for bearish evidence at the 88.400 level before entering this trade.

CONCLUSION: Bearish bias pending daily resistance retest.

BEAR INDICATORS:

1. Rising Wedge Chart Pattern - marked by blue dotted lines
2. Three black crows - found at the tip of the rising wedge pattern
3. Bearish engulfing - engulfing the previous candle on daily chart
4. Bearish engulfing - evident on the weekly chart

BULL INDICATORS:

1. Bullish pin bar ( daily chart )
2. Price rejects 86.753 area, a key monthly/daily support level - marked by red dotted line.
tony12000
a year ago
well done!
Reply
PabloSantander tony12000
a year ago
Thanks Tony!
Reply
Piet.Hein
a year ago
Nice trade!
Reply
PabloSantander Piet.Hein
a year ago
Thanks Piet. I'm still holding my positions on this one till target 2.
Reply
Piet.Hein PabloSantander
a year ago
Im still holding my till 83 :D But already closed my CADJPY short today, was a daily wedge breakout too, very good.
Reply
Piet.Hein Piet.Hein
a year ago
AUDJPY Short - I
Reply
tony12000
a year ago
Im going to try to get short around 88.....(wait for reversal candle)....
Reply
Piet.Hein tony12000
a year ago
Good luck! :D
Reply
tony12000 Piet.Hein
11 months ago
Do you still like your short?
Reply
Piet.Hein tony12000
11 months ago
hahahah, yes, still. Why? What you think?
Reply
tony12000 Piet.Hein
11 months ago
lol!... just curious.. I like your publications.. all on the daily charts..easy for me to read!!!!
Reply
Piet.Hein tony12000
11 months ago
And easy to me to analyse! :p Daily charts a cleaner
Reply
tony12000 tony12000
11 months ago
i have a SL at 88.80
Reply
Piet.Hein tony12000
11 months ago
my currently at 90.7, but when it goes down I will move to break even, what was your entry?
Reply
Piet.Hein Piet.Hein
11 months ago
Original stop since entry
Reply
tony12000 Piet.Hein
11 months ago
unfortunately 87.50...I was without my PC for 5 days and wanted to get in!..... little worrysome after todays rally!
Reply
Piet.Hein tony12000
11 months ago
Yes, but I hope we can win this together!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out