dojitrader
Short

Potential Ending Diagonal

FX:AUDJPY   Australian Dollar/Japanese Yen
113 2 0
Ending diagonal within an ending diagonal ? Has the little one finished and/or will the larger one complete. In which case
you can trade the A = C --- 94.16 --- also the 50% retracement from the top at 95.70 OR lower your risk by waiting to trade
the top of the trend line at 5 OR if that all misses set a stop limit for the breakdown below 93.80.
To me this looks pretty good with the overthrow of the channel lines: very common with an ending diagonal.
Of course, this can make stop placement a bit of a challenge so be prepared to stop out and reenter or set
a lot of leeway for some sloshing around.
dojitrader
3 years ago
Answer: The little diagonal. And I was soooo hoping the big one would play out for big profit. Keeping watch over this for some kind of retest @ 93.80 or higher, although the present chart pattern and candlestick formation do not bode well for this to happen.
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dojitrader
3 years ago
Well, did get my retest, BUT, the markets are kicking up so much dust, it's difficult for me to see clearly. I think I'll let it settle and take the rest of the day off to enjoy a last beautiful, crisp, fall day in the mountains: maybe even tomorrow. Winter will arrive all too soon.
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