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Micss22
May 18, 2017 1:38 PM

AUDJPY BUY Long

Australian Dollar/Japanese YenFXCM

Description

Analysis inside

Comment

Some people have put their SL a few pips over the broken channel and now they are out.

The price will certainly continue this direction, although there is nothing assured of course.

The question is: why a bullish setup in a supposed bearish situation? An underneath channel break is bearish right?

Wrong. A meta-analysis is needed. For example, a double top pattern is only valid when, Already having happened the double peak, a deeper one appears that bounces all people off the market. The pattern is confirmed in the peak that breaks the two peaks, before going in the right direction.
Comments
Jamal92
100% Agree. Lets just hope no more trump BS
Micss22
@Jamal92, Yeah, price is a little crazy in this political phase.
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