This is a *technical analysis chart* for the *AUD/JPY* currency pair on a *1-hour timeframe* using TradingView. The chart includes various *technical tools and patterns*, such as:
### *1. Trend Analysis*
- *Bearish Trendline (Red Line):* Represents a previous downward trend.
- *Breakout (Labelled ‘Break-out’):* Indicates when the price broke above the bearish trendline.
- *Ascending Channel (Beige Shaded Area):* Price is moving within an upward parallel channel after the breakout.
### *2. Market Structure Analysis*
- *CHoCH (Change of Character):* Used to signal shifts in market direction.
- *Support & Resistance Points:*
- *Green Arrows:* Indicate support (buying pressure).
- *Red Arrows:* Indicate resistance (selling pressure).
### *3. Price Action Patterns*
- *Breakout and Retest Strategy:* The price broke above a bearish trendline and then moved within an *ascending channel*.
- *Channel Trading Strategy:* Traders use the support and resistance of the channel to anticipate future price movements.
### *4. Indicators & Tools Used*
- *Trendlines:* Used to identify market structure.
- *Price Action & Market Structure:* No visible moving averages or oscillators, indicating a focus on raw price action.
This chart suggests that the price is respecting the ascending channel, with traders watching for potential further movement within or a breakout from the channel. Let me know if you need a deeper analysis!
### *1. Trend Analysis*
- *Bearish Trendline (Red Line):* Represents a previous downward trend.
- *Breakout (Labelled ‘Break-out’):* Indicates when the price broke above the bearish trendline.
- *Ascending Channel (Beige Shaded Area):* Price is moving within an upward parallel channel after the breakout.
### *2. Market Structure Analysis*
- *CHoCH (Change of Character):* Used to signal shifts in market direction.
- *Support & Resistance Points:*
- *Green Arrows:* Indicate support (buying pressure).
- *Red Arrows:* Indicate resistance (selling pressure).
### *3. Price Action Patterns*
- *Breakout and Retest Strategy:* The price broke above a bearish trendline and then moved within an *ascending channel*.
- *Channel Trading Strategy:* Traders use the support and resistance of the channel to anticipate future price movements.
### *4. Indicators & Tools Used*
- *Trendlines:* Used to identify market structure.
- *Price Action & Market Structure:* No visible moving averages or oscillators, indicating a focus on raw price action.
This chart suggests that the price is respecting the ascending channel, with traders watching for potential further movement within or a breakout from the channel. Let me know if you need a deeper analysis!
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Just for One More Smile © free
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
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telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.