Potential set up forming here!
AUDJPY
AUDJPY has been in a bullish movement for a few weeks now. As this move is begging to slow in momentum, we can see a continuation pattern forming; Ascending Triangle. Its important to note that these patterns are no guarantee in where price will move, but we can have a look at some factors which may suggest a bullish move soon.
What to Look Out for:
- Ensure all moving averages align with the current uptrend
- Indicator suggesting bullish movement (MACD)
- Looking for a 'straight line' resistance, and a support line where price is increasing (highlighted on the chart)
- A strong break out of the resistance zone (marked as 108.58); This is very important as we often see 'fake outs' occur here.
AUDJPY
AUDJPY has been in a bullish movement for a few weeks now. As this move is begging to slow in momentum, we can see a continuation pattern forming; Ascending Triangle. Its important to note that these patterns are no guarantee in where price will move, but we can have a look at some factors which may suggest a bullish move soon.
What to Look Out for:
- Ensure all moving averages align with the current uptrend
- Indicator suggesting bullish movement (MACD)
- Looking for a 'straight line' resistance, and a support line where price is increasing (highlighted on the chart)
- A strong break out of the resistance zone (marked as 108.58); This is very important as we often see 'fake outs' occur here.
Trade closed: target reached
Profits taken on this one!
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.
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.