tradersvision

! Head and Shoulder Formation !

FX:AUDJPY   Australian Dollar / Japanese Yen
291 2 1
There is a SHOWDOWN in this pair between safe heaven and risk on /off currencies. This formation developed over the last few months on the daily timeframe seems to finally come to a decision in the next few days. There is a potential of about 400 pips to the downside once a definitve break of the necklinie is confirmed. So far, nothing has happened in this case. I am a little concerned about the short side - although the divergence with the momentum is pretty obvious. On every level of this formation the momentum has formed a negative divergence. But as long as the red -thin- upward line in the momentum has not been broken I remain suspicous about going short. Let us see how it plays out over the next two days. From the point of the Aussie Future and the Commitment of traders data - not shown here- can be stated that the aussie dollar is - at the moment - in a very vulnerable position. We need to see a definite break - that is why I am still neutral on this pair. I am willing to go short as soon as I see confirmation as mentioned before.
Followed.
Reply
Agreed.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out