RSI in the D1 is overbought. The H4 timeframe shows a possible Doubletop in the keyzone. Also RSI is overbought on the left high and shows a bearish RSI divergence. Nice short possiblity if price breaks and closes below the neckline.
Audjpy near trendline, Watch for market movements around here. In daily there is a possible breakout.
Moreover we have AUD CPI (QoQ) (Q4)
AUD CPI (YoY) (Q4)
Data on Wednesday 4:30 GMT +4
A reversal is more in consideration on news actual Data.
On the USDJPY we can see that price has reached this trendline. I'm waiting to see if price can manage to close beyond the trendline and enter from there.
The waving line is the expected price movement.
On the GBPUSD we can see that price broke the trendline on tuesday, then we got a nice retest from where we can enter. The waving line is the expected price movement based on previous structure.
Syndicate members there will be a video coming out on this shortly, but I wanted to share with you guys a potential breakout trade that I have on my radar this Tuesday Morning.
If you're unsure on the different ways to trade these types of simple consolidation pattern you can check out the video I posted 2 weeks ...