SETUP - This setup has been the same for two weeks. Corrective move has continued up and will eventually break, waiting on it. Has been for two weeks in correction. Trigger line unbroken yet, I believe will be soon as AUD is correcting on other pairs.
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Breaking down
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still no trigger
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kallentto
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This AUDJPY is trolling me, it's clear it will fall, but they want to play with my nerves ...
TAS_is_Goliath_Capital_Growth
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@kallentto, I know how you feel. Only have one JPY trade on at the moment and it does not look too determined
Trader_Dale
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Thanks for your great analysis I also think that the uptrend is over now!
Here is my view on AUD/JPY if you are interested:
Strong selling activity from 87.50 shows that strong sellers are present and that the long uptrend is now over. The market will be probably in wider rotation now and I will go short from 86.61 because this place was the beginning of the sell-off that started 2016-12-15.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale
dizzybeez
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thx for the insight. You mean AUD weakening against other pairs? because its been going crazy on all pairs the last 2 weeks.
TAS_is_Goliath_Capital_Growth
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@dizzybeez, No, probably weakening against JPY and NZD. Gold is going up so AUD goes up