TradingView
Fxprotrader
Nov 23, 2016 8:10 AM

AUDJPY: Will Daily Downtrend & Median Line Push Price Lower? Short

Australian Dollar/Japanese YenFXCM

Description

Price has reached a long term downtrend at the same level where it tests the median line of an active pitchfork. The slope is valid and what we should do is watch closer for any sell setup completion based on our strategy. In a lower time frame we may see that we have a double top formation at current level, another factor to think going short. In case price breaks above the downtrend and median line, we look no more for shorts.

Comment

Double top at median line

Comment

Previous image is the long term downtrend ;) Double top is below
More