Here is a monthly chart of AUDJPY.. Yeah, I had to look that far back for any resistance to this months bullishness. So, I am looking for a pullback candle on the monthly chart... I am not looking for a major trend reversal from this view, just a pull back due to it being overextended. I cannot say where it will go longer term.
SO I find the resistance on the monthly and weekly chart,,, and I look for a pull back on the monthly candle, or the next candle or 2, that is the trade... It's shorter term, exit using smaller time frame support levels from more recent price action.
If you want to see the exact area of resistance , zoom in to the weekly or day level and look back around 103 to those previous months, theres enough there to stop this candle.
SO I find the resistance on the monthly and weekly chart,,, and I look for a pull back on the monthly candle, or the next candle or 2, that is the trade... It's shorter term, exit using smaller time frame support levels from more recent price action.
If you want to see the exact area of resistance , zoom in to the weekly or day level and look back around 103 to those previous months, theres enough there to stop this candle.
