FullTimeTrader
Short

AUDJPY- retesting broken trendline

FX:AUDJPY   Australian Dollar/Japanese Yen
1241 7 22
Im trading this pair since the gartley completion visible on D1 chart.
snapshot

Right now price already reached the first target and is making a pullback to a strong area of S/R.
MACD crossing showing bearish continuation.

Here on H4 chart we see other reasons:

- price testing a broken trendline
- strong structure
- ema 55 as resistance
- convergence (first lower low)
- multiple spikes

A good opportunity to enter short or add positions.

Best regards.

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).

Comment: first target hit, movin SL to BE
agree sir, this is my analysis, i am assuming 2 cypher pattern to be form
snapshot
Reply
Thanks for comment. I will be looking at the gartley completion to take profits and look for longs. Regards.
Reply
FullTimeTrader FullTimeTrader
Sorry, i should say the CYPHER completion.
Reply
We have a flag pattern on H1, it tends to break higher... ???
snapshot
Reply
Hello, there are flag pattern everywhere on a given chart, overall they work well. BUT We should make first a top-down analysis. According to my D1 chart price is forming a bearish gartley. Then we can switch to lower TF and looks for setups, in this case bearish setups. Regards.
+1 Reply
farik666 FullTimeTrader
Yes, as we see it worked out. Also jumped in on this trade @ 88.523
Reply
didnt take it but nice call!
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out