AUDJPY - REVERSE H&S LONG

Aug 27, 2021

AUDJPY has created a reverse H&S pattern on the daily time frame with higher high for the neckline - which is ideal for a bullish reversal pattern. The neckline was tested recently and price got rejected to the upside. Notice how price also retraced to the 61.8 % fibo based on the last impulse. Buy on break of channel and retest of nearest support level on lower time frame.

Sep 2, 2021

Note

Price broke the channel as expected. Looking for it to retest before entering buy.

Sep 3, 2021

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Very close for a retracement.

Oct 29, 2021

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Almost 800 pips gained from this analysis. Wow!