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JAPANESE YEN / AUSTRALIAN DOLLAR

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JPYAUD trade ideas

Wait for wave (IV) to troll back at 38.2/50% fibo and open long!AUDJPY Analyze- 9 PM (TH)- 01/06/2021 We are in the wave of the second set of non-standard small x of wave x3 OR Wave A of x3 Which the price is forming last wave v of wave A and in a deeper degree, it is wave (iv) of wave v Where are we? x3 - A - v - (iv) Plan to trade for tomorrow 1. Wait for wave iv to retrace at red resistance horizontal line at 38.2% or 50% 2. Candles have to be able to stand at those lines 3. Ema 5 and 15 cross up 4. MACD and CCI make bullish divergence in the small timeframe 5. Plan how much you want to risk and place an order with the stop loss and take profit which is around 100% of the previous wave (I) and stops loss is a little bit lower than 50% because wave (ii) is already zigzag which means wave (iv) has to be flat/triangle or combination waves; normally it will not retrace more than 50% of the former wave. One quote for tomorrow “Never, ever argue with your trading system” - Michael Covel ---Meaning: It will never get you anywhere! And let’s face it, it’s probably not the systems’ fault. If it’s really doing you no good, change it!--- Thanat VIchachai
Long
by ThanatVichachai
💡Don't miss the great sell opportunity in AUDJPYTrading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (78.11). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDJPY is in a range bound and the beginning of downtrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 30. Take Profits: TP1= @ 77.46 TP2= @ 76.96 TP3= @ 76.50 TP4= @ 75.42 TP5= @ 74.90 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
4
📚 Learn More 💰 Earn More with us: FLAG = Impulse + Correction📚 LEARN MORE 💰 EARN MORE With ForecastCity FLAG pattern Definition: A FLAG pattern is a continuation chart pattern, named due to its similarity to a flag on a flagpole. A flag is a relatively rapid chart formation that appears as a small channel after a steep trend, which develops in the opposite direction. After an uptrend, it has a downward slope. After a downtrend, it has an upward slope. IMPULSE Definition: A “flag” is composed of an explosive strong price move forming a nearly vertical line. This is known as the "IMPULSE" or ”flagpole”. The sharper the spike on the flagpole, the more powerful the bull flag can be. Corrective Wave Definition: After an uptrend, it has a downward slope. After a downtrend, it has an upward slope. This downward or upward slop known as "Corrective Wave". Flag patterns can be bullish or bearish: A bullish flag is known as a Bull Flag. A bearish flag is known as a Bear Flag. How to Trade FLAG Patterns: When the trend line resistance on the flag breaks, it triggers the next leg of the trend move, and the price proceeds ahead. Breakouts happen in both directions but almost all flags are continuation patterns. This means that Flags in an uptrend are expected to break out upward and Flags in a downtrend, are expected to break out downward. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity_ME
6