AUDJPY Updates and Follow Up
Price is moving as per our plan
D1 - Triple cycle down, double cycle up. Price has now reached the downtrend line. Hidden bearish divergence.
H4 - Bearish divergence forming, we may expect a reversal to happen from the action zones.
H1 - Triple cycle upside, bearish pressure. We might see one more false break.
We already have a good uptrend line but if the price pushes higher and if it forms another valid uptrend line then we can use that most recent uptrend line. Once we get a breakout of that most recent uptrend line, we can look for sells.
Note: If the price moves higher, breaks and holds above the daily downtrend line then this H1 scenario will become invalid.
D1 - Triple cycle down, double cycle up. Price has now reached the downtrend line. Hidden bearish divergence.
H4 - Bearish divergence forming, we may expect a reversal to happen from the action zones.
H1 - Triple cycle upside, bearish pressure. We might see one more false break.
We already have a good uptrend line but if the price pushes higher and if it forms another valid uptrend line then we can use that most recent uptrend line. Once we get a breakout of that most recent uptrend line, we can look for sells.
Note: If the price moves higher, breaks and holds above the daily downtrend line then this H1 scenario will become invalid.
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