dojitrader
Short

Looking For An Extended Shark Near Resistance

FX:AUDJPY   Australian Dollar / Japanese Yen
91 views
1
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A "regular" Shark would be point D at .886,
But,
with the immediate reversal within a pip of the
1.13 fib ext for point C and the impulsive nature
of the price action since,
Plus,
the daily high @ .96.50 it seems to me that
the only short target worth taking will be the
extended 1.13 point D
So,
The candlesticks will have to create the best
pattern possibly to keep me from ignoring the .886
I take no comfort in being intuitive enough, maybe, to ignore
the .886 entry. The extremly/excessive impulsive nature of this move
has me baffled in trying to put it into the context of previous price action on the
4 hr and Daily charts. I'm in no hurry to enter any kind of short. If I do
it will be very low, well defined risk. Standing aside for now ~~~~~
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