Carl_G
Short

AUDJPY SHORT TERM OUTLOOK

FX:AUDJPY   Australian Dollar / Japanese Yen
93 0 4
As the Primary MIDAS Support Curve S1 was penetrated through a strong bearish engulfing signal, crossing below the T-Line and taking out the demand, a MIDAS RESISTANCE Curve (R1) was launched from its high. Price now made its way down to recent lows creating an exhaustion to the upside as well as being in oversold territory, indicating that the price is turning back up to test the R1 Curve. Now is a good time to close all current short positions and take profits until we see bearish conformation and a close below the R1 Curve. Conformation of that the bears are taking back control would reflect in a bearish candlestick formation and a close back BELOW the T-Line on the lower time frames, which in turn leads to price ending up closing below the R1 Curve on the daily time frame. Once and if this occurs, it is then safe to go short until we see price showing signs of closing back above the T-Line.

Additional: Another great indication of price being contain within the R1 Curve can be seen on OBV ( On Balance Volume ). If price is making higher highs on the 4 hr             chart and OBV is not, then it is certain that price will be contained for further momentum to the downside or AT LEAST a reaction to the downside.
Comment: If price does not mange to pull back all the way to the R1 Curve a MIDAS Bottom Finder will be launched to possibly predict where the market will bottom out.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out