Audjpyshort
AUDJPY SELLSeveral weeks ago, I shared an idea of how we could expect AUDJPY to break out of the ascending channel. Wave (V) seems to have come to an end and AUDJPY has finally broken out of the channel. We could potentially expect a further downside.
Disclaimer: None of these are investment or trading signals but just ideas.
Please support my ideas by dropping a like or leaving a comment.
AUDJPY – New Week Analysis – 5-Apr-21
📉 SELL ZONE – 83.393 to 84.893
🔷 Take Profit 1 - 84.193 (20 Pips)
🔷 Take Profit 2 - 83.893 (50 Pips)
🔷 Take Profit 3 - 83.393 (100 Pips)
⛔ Exit / SL - 85.393
There is potential for the price to move lower, its showing resistance for price reversal around 84.400 region, if this resistance holds then we can see the price bearish towards 83.400.
AUDJPY SHORTSo in this example AUDJPY SHORT
1. Is our Bankers box range
2. Is the break out and taking of the liquidity of the high/low of the bankers box range
3. Is our flag pattern movement back in towards our entry area the money zone
4. Is the drop or the expected price to respect to
Take partials on way down
Additional Entry Setup | Short on PullbackCould be a nice opportunity to open an additional short position on a minor pullback retesting intra-day confluences:
- Strong area of S&R
- Inner 0.5 fib retracement
- Respectable descending TL
My sentiment remains bearish on AJ and i think we got some more room to drop in the upcoming 24h. Previous order has SL adjusted to breakeven and it will be wise to lower risk on this additional trade.
If we see a confirmed break below 83.700 support area before getting ticked in, then cancel this order.
AUDJPY Trading Idea.G'day Guys
Here my idea on AJ, Uncertainty of Nikkei movement keep JPY currency getting weak. But remember BOJ normally move differently once their currency drop too much.
On my technical perspective, Bigger time-frame showing possibility on forming Double top to retest the previous high. But based on Hourly perspective, its showing price move downwards.
Am anticipating, BOJ might gonna do something based on Human Behavior how they gonna react if something happen with their currency. I'm expecting price will heading south.
Let's see what happen next.
Cheers.