AUDJPY 30min Analysis January 21s, 2021
Price is starting to consolidate in a flag pattern.
Trade Scenario 1: Bullish - For us to go long we need to see price breakout of our flag pattern and above 80.450. We will then wait for a retrace and for 80.450 to act as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we want to see strong bearish pressure push price back below our key structure zone of 80.200. We will then wait for a retest and for 80.200 to flip as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we need to see price breakout of our flag pattern and above 80.450. We will then wait for a retrace and for 80.450 to act as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we want to see strong bearish pressure push price back below our key structure zone of 80.200. We will then wait for a retest and for 80.200 to flip as resistance. Enter on strong bearish setups.
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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.