Audjpyanalysis
SELL AUDJPYReason to enter sell
1. trendline (h4)
2. resistance zone (h4)
3. trendline & resistance confluence (h4)
4. massive bearish candle (w)
3. double top (w)
i think isn't good setup because zone in lower timeframe and major trend still uptrend, but you can try to enter sell with low risk and minimum risk ratio. enjoy!
AUDJPY Is Heading Higher To Complete Five-Wave SequenceAUDJPY decline from wave 3 high took the shape of Elliott Wave 3-3-5 sequence known as Flat Pattern. This pattern is a corrective pattern and it is in the position of wave 4 in AUDJPY's case.
Both Wave 2 and 4 follow EW alternation guidelines.
Wave 2 was a sharp and deep correction (retraced 78.6% of wave 1) and Wave 4 correction is a sideway and retraced 38.2 of 3 so far.
If this count is correct, the price should head higher in wave 5 to complete the five-wave impulse sequence.
Other confluence:
Price is rejecting the H4 order block that is lined up with H4 200 EMA.
What's your view on AUDJPY? Let me know in the comment.
AUD/JPY: PRICE ACTION ANALYSIS| SHORT SETUP...Welcome back Traders, Investors, and Community!
Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button
Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this.
Feel free to request any pair/instrument analysis or ask any questions in the comment section below.
Have a Good Day Trading !
audjpyAUDJPY - SHORT
Why are we entering?
- Price broke the ascending trendline = bearish
- Expecting further AUD weakness & JPY strength = AUDJPY SHORT
What are we waiting for to happen?
- price to retrace back to the structure and EMA
- Waiting to draw WFB
What is our confirmation?
- Break of WFB trendline
- Rejection of structure
- Rejection of EMA
Entry
Safe Entry: Rejection of structure and EMA and then WFB break
Risk Entry 1: Rejection of structure and EMA
Once entered, where will our Stoploss be?
- above the rejected price
Where do we take profits?
- First TP: 83
- Second TP: 81
AUDJPY FORMING NEW PATTERN?? 28/10/2021DISCLAIMER ON, this is my personal perspective and analysis, audjpy potentially forming bullish Pennant (4 swings) or symmetrical triangle (more then 4 swings) we waiting for the price action ( candle rejection or impulsive bullish candle ) from the square area or waiting for breakup pattern. target price 87.080
The AUDJPY ahead of the RBACurrently the AUDJPY is set up in a wedge. Some would call this a bullish wedge as the highs are constant near the 86.00 level and the lows are higher. However, since this is a major resistance from the spike highs back in May 2021, we are just going to consider this as major resistance, especially with the RBA rate decision overnight. A move above the 86.00 level would be very bullish for the pair, but a break below the 84.70 level would hear calls for a longer term double top. Price action the 24hrs following the RBA decision will be key for the pair.
AudJpy- Ready for 88After the correction from 85 to 77 strong support, AudJpy has resumed its up-trend, recovered losses, and is trading now just in the old local high zone.
For 2 weeks now the pair is consolidating gains and is putting in a small continuation triangle on our daily chart (visible, of course also on small TFs)
At this point, AudJpy looks ready for a break up and the target could be 88 strong resistance (visible on weekly and monthly)
A drop under 84 would negate this scenario