AUDJPY in a strong down trend daily channel
I see a strong horizontal resistance at 80.60 and
a bearish Bat pattern completion at 80.80
I would like to see how price reacts at the 80.60/80 levels before going short.
However, I will be a little more cautious on this trade as the there were good CPI numbers coming out of Australia this morning.
I see a strong horizontal resistance at 80.60 and
a bearish Bat pattern completion at 80.80
I would like to see how price reacts at the 80.60/80 levels before going short.
However, I will be a little more cautious on this trade as the there were good CPI numbers coming out of Australia this morning.
Comment:
H4 RSI at 50 now. Hope that there will be another leg up towards my sell zone 80.60/80. Could be a trade for next week. (still not in the trade)
Comment:
This bat pattern is still valid. RBA rate call in 1 and a half hours time. I am expecting no rate cuts and a rally in the AUD. Let's see how price reacts to the 80.80 levels (if it gets there)
Comment:
Potential Crab Pattern completing at 80.96, current H4 RSI not at OB yet. This could reach my expected 80.80/96 to complete the bearish patterns for a short. Remain patient
Order cancelled:
Dropped 180 pips !!! Another painful miss. I was focused on the completion of the Bat pattern at 80.80. Price indeed went up after the RBA rate call to the resistance of 80.60.