This is my take on the audjpy chart as of now. I do believe that we are struggling to create higher highs and so will possibly proceed to the downside to rest and look for other opportunities to move up.
After a strong market uptrend, we see signs of market structure shifting and moving towards the downside. Where the market stops is unknown, but for safety's, we can place our first take profit at the fresh demand left untouched.
So in this pair, we see that price is moving to the downside, however, on the daily , the rsi shows a bullish divergence setup. But the problem is when to entry. As we analyse the market, we see that there is liquidity waited in a certain area just waiting for the big institutions to take all their money. But there is an untapped demand beneath the pool of...
The daily shows clear signals that it will now move to downside after a sharp increase in price. Will most likely move to nearest demand allowing for a sell opportunity to come by. Price may break previous support and retest giving us an entry.
So after the massive downtrend, it appears to have met its end for now and shows signs of going into a temporary uptrend. The 4 hour shows price possibly moving to the supply that was created and maybe continuing down to the downside after reaching the supply.
The four hour and daily show a possibility of price going back to the 4 hour supply. However, if that does fail, we can expect a large sell to the downside.
the multiple time frames including daily show market direction heading upwards. Here we have an opportunity to go long. I advise to trust your own trading as this is only an idea.
there is a clear downtrend at the moment and there have been many supply's being created. There are two possible opportunitys and great profit available.
this is my take on the AUDCAD pair and i do have lots of confirmations that this is heading down aka multiple time frames and fresh strong supply aswell.
The demand has been hit and is now heading towards the upside. But on the daily, it is clear that once it hits where i circled at the top and labelled, it will skyrocket back down again
AUDNZD has finally hit the trend line down and is showing strong rejection. I believe it will now go downwards from here as it slowly forms a descending triangle pattern
