Just like the previous analysis I share on NZDJPY, AUDUSD, they are have the similar bearish development.
Here on AUDJPY, we can see a clear higher time frame Head and Shoulder Pattern. Price formed the Top of the Head, and strong bearish impulse phase down.
Naturally after a strong move, price begin to correct and form into an ascending structure, right shoulder.
Latest price develop another reversal correction within the right shoulder, and a strong bearish impulse on the LTF.
Look for the continuation correction to form on the LTFs, and watch for the next bearish impulse down.
Thank you
Comment
⋅
exit for +0.6% profit price didn't break out of the HTF structure and LTF form inverse H and S Exit for now, and will wait and see if price develop further
Comment
⋅
Comment
⋅
Comment
⋅
Out for +1.47%
Comment
⋅
Comment
⋅
enter 2 more sell positions ended up with +4.51% profit