Possible short in motion...let's see what happens with Monetary Policy Minutes at 7:30 NY! 150+ pips to the downside...Good Luck! KEEP THE RADARS UP!!!
Potential Cypher Completion + Miner Resistance
After a NSH at 95.28 a possible BAT pattern appears. Ratio confluence turning the blue area into PRZ. T1 @ 0.382 and T2 @ 0.618. SL must be above X
I don't know where we are going with this. If we go up a Gartley will complete around 93.84. T1 @ 0.382 and T2 @ 0.618. If we go down a BAT will complete around 90.72. T1 @ 0.382 and T2 @ 0.618. Perhaps the SL on the BAT should be lower as a result of point A of the possible Gartley. And of course it is possible that first the Bat and the Gartley will complete.
If you missed the first train southbound as I wrote some days ago, maybe you can get a second chance; price has been rejected exactly at 93.00 so we might see a further weakness in the coming days. Drilling on a lower time frame respect to my former analysis, we can see how the pair is consolidating in a lateral congestion and we can easily identify a resistance...
My analysis of AUDJPY 4H. I have created 2 potential supply zones and 1 demand zone. The chart shows a downtrend at the moment and despite a recent sideways trend from February, if the price happens to hit my supply zone 2, this indicates a potential long term short.
Pros: 1 - Bearish Cypher Pattern (Red formation); 2 - RSI almost in overbought conditions; 3 - It is expected a retrace in the Golden SMA to trigger the move to the downside. Cons: 1 - Breakout of the support area (Orange Square).
05/2012 Trendline has been broken + 200DMA pierced + resistance = LREP short momentum/swing trade
AUDJPY has made a strong move down for several days. For nearly a month to be precise. Following the downward impulse is a consolidation which has constantly left clues that shows the possibility of a further move down. Orange line 'A' shows the resistance off which the price has been repeatedly rejected while the orange line 'B' shows the support off which the...