The12thBurn

The12thBurn

There are two possible cases here, 1. The green line which can be a long trade with stoploss below the blue box. 2. The red line which can a short trade, however I would wait for a retest if this plays out. I am leaning more towards the short because in highe time frame this pair is bearish, we have a down trend holding 50-200EMA band as resistance. Let me...

The12thBurn

AUDJPY is in a mid term down trend. And added to that,1H chart shows a bearish rising wedge, leading to the falling wedge resistance of daily chart. It's a perfect short entry with high risk to reward ratio.

The12thBurn

AUDCHF is at a supply zone, furthermore a retest is pending on 4H chart. So I belive a short from this area would be sensible, and then a long at the retest.