SL @87.600 EP @87.000 TP @82.100 RRR: 8.17 Risk: (60 Pips) Reward: (490 Pips)
With the BoJ keeping their QQE program on hold and safe haven flows through the JPY at the moment due to the global unrest caused by China I would expect to see the JPY continue to strengthen. The AUD being hit by weak Oil and a poor retail sales figure we should see further downside in this currency pair. Trade like a pro boafx.com
see chart for details - in a nut shell: - ranging in a rising wedge, that is - about to hit previous support, now resistance, that - confluences with 0.5 retracement level of previous swing low, all while - RSI and STOCHS are (close to) being oversold and topping out... stops above previous 2nd resistance level targets indicated - T1: clone of the wedge base...
So, the first day of december began with a false break above a considerably important price. A week later it corrected itself in light of a market dominated by the bears. We proceed on the assumption (assuming is inherent in forecasting) that this bear trend is still intact unless structure says otherwise. By that I mean if '3' is breached. 5 will be...
Here on the AUDJPY i have explained a few reasons why i am short this pair from the .786 retracement after the break and close below previous swing low. the rally that has followed in my opinion gives me a great opportunity to short with a small stop loss and good potential profits. If you are interested in seeing the way that i analyze the market and how i come...
Hi guys, I am looking forwards to short AUD/JPY at level 88.40. Yellow line resistance and FIB retracement in my opinion will not allow to complete the butterfly pattern. As from that level it should fall down. Happy trading any comments welcome.
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...