AUDJPY potential short at 80.80

FX:AUDJPY   Australian Dollar/Japanese Yen
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.
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.
thanks for the continuous update
BoonHooi GoldHunter
Will update as I move ahead. Did you managed to catch this trade ?
+1 Reply
GoldHunter BoonHooi
no, I missed it too :)
price coming back to you :)
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