17th Idea:- AUDJPY
Long time trend :- long
daily is showing a formation of head and shoulder.
along with that 4 hour there is a kind of wolf wave formation
small time trend :- short
Scalping :- master candle on 4 hour chart ; have a watch , if break 88.642 go long , small hold & exit
if break 88.389 go short ,small hold & exit
----------------------------------------------------
Analysis
-> it is stuck in an heavy resistance area( 88.672 to 88.165) , in between there is local resistance area (88.477 to 88.397 )
-> initally there is a T89 pattern on 1 hour chart which is slightly indicating that it will go down for short time.
->Murrey math 5/8 ( on top of trading range)
->inverted head and shoulder formation on daily time frame
-> wolf wave forming need to wait if it completely form.
-> stuck between two pivots .
wait and watch .
TRading point :-
i will be going according to master candle and will hold the direction .
most probably short
TP:- 88.171
then wait for the the wolf wave completion as soon as the price is above the trend line 1 & 2 will go long and hold till it meet the wolf line target profit .
if wolf doesnt complete or take an other shape then will go with head and shoulder and will long .
enjoy trading :)
Mondays are always with if and else lol
:) cheers
daily is showing a formation of head and shoulder.
along with that 4 hour there is a kind of wolf wave formation
small time trend :- short
Scalping :- master candle on 4 hour chart ; have a watch , if break 88.642 go long , small hold & exit
if break 88.389 go short ,small hold & exit
----------------------------------------------------
Analysis
-> it is stuck in an heavy resistance area( 88.672 to 88.165) , in between there is local resistance area (88.477 to 88.397 )
-> initally there is a T89 pattern on 1 hour chart which is slightly indicating that it will go down for short time.
->Murrey math 5/8 ( on top of trading range)
->inverted head and shoulder formation on daily time frame
-> wolf wave forming need to wait if it completely form.
-> stuck between two pivots .
wait and watch .
TRading point :-
i will be going according to master candle and will hold the direction .
most probably short
TP:- 88.171
then wait for the the wolf wave completion as soon as the price is above the trend line 1 & 2 will go long and hold till it meet the wolf line target profit .
if wolf doesnt complete or take an other shape then will go with head and shoulder and will long .
enjoy trading :)
Mondays are always with if and else lol
:) cheers
Note
Watch news .... it will spike out because of news it can be day for scalpers .. master candle can change the game plan JPY Monetary Policy Statement
JPY BOJ Outlook Report
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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.
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.