AUDJPY 30min Analysis January 13th, 2021
Price has been in a consolidation pattern forming around the 30min 200MA for the past few days. We are currently waiting for a breakout of this pattern.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 80.600. We will then wait for a retrace and for our current structure zone above 80.550 to flip as support. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to go short we need to see price break below 80.300. We will then wait for a retrace and for 80.300 to flip as resistance. Entering on strong bearish setups
Trade Scenario 1: Bullish - For us to go long we want to see price break above 80.600. We will then wait for a retrace and for our current structure zone above 80.550 to flip as support. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to go short we need to see price break below 80.300. We will then wait for a retrace and for 80.300 to flip as resistance. Entering 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.