Within the forex market, I have spotted important bearish setups within the current market developments. One of them is JPYAUD because this pair remained in a steady downtrend for a very long period of time. Such long-lasting downtrends are not trends that reverse from one day to the other. Also, I have spotted the underlying fractal formations, bearish formations, and upcoming bearish determinations that are preeminently important for JPYAUD.
As when looking at my chart now JPYAUD has formed this enormous gigantic bearish descending channel formation in which it has the main upper resistance channel from where it already pulled back off the upper boundary and especially within the past pullback JPYAUD formed a main fractal from A to D before this pullback increased with the severe bearish momentum accelerations towards the downside. Exactly, the same fractal is completed again.
With the breakout below the fractal channel boundary and the pullbacks off the EMAs JPYAUD has formed severe resistance levels within the range from where further pullbacks are more than not unlikely. This means that the path for JPYAUD is towards the bearish directions with an elevated determined bearish pace as JPYAUD already activated the bearish target zones. Also, JPYAUD with the breakout and pullback in the range is now forming the main wave C downtrend extension.
Below these main resistance levels, JPYAUD is now forming this bearish flag continuation setup that is actually setting up the next bearish wave momentum to accelerate in the near term. The first target of the currently preceeding bear breakout is within the 0.0101 level and once this level has been reached the next target is within the 0.0098 level. Especially, once this final target zone has been reached the momentum needs to be measured as JPYAUD may just continue with the bearish acceleration below the target zones.
Thank you everybody for watching my idea about JPYAUD. Support from your side is greatly appreciated. "For those properly prepared, the bear market is not only a calamity but an opportunity."
VP
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UPDATE: JPYAUD is setting up more and more bearish volume and the bears are increasing short-side open interest indicating a massive bearish spike to follow through.
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ANALYSIS UPDATE: JPYAUD is already completing the main bear flag breakout acceleration.
JPYAUD activated the bearish target zones with the final breakout determination.
I don't agree with your vision, it seems to me that the idea is too exaggerated, and there is no confirmation of this scenario right now. What will you do if the price goes the other way?
pejman_zwin
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You’re a nerd, dude!🤓
melikatrader94
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It’s awesome. Thank you for sharing your opinion. You did great work!!