JPYAUD trade ideas
AUDJPY : LOOK FOR SHORTMultiple reasons to sell
1. rejection from previous resistance line
2. double top with RSI Divergence
3. rising wedge break down
4. head n shoulder pattern breakdown from neckline
on 30 mins it is showing some strength might come back to re-test 79.9-80 zone for retesting the Break down, use that opportunity to sell for a better risk to reward. please check the chart for SL and Target levels.
Cheers!!
AUDJPY double topa big opertunity for sellers , prive is back testing and look at the candlestck pattern formation
AUDJPY: Triangular Thrust (intraday)Buy with SL below the level of wave d & ride the trend for the minimum target of 81.
AUDJPY may continue the uptrend!AUDJPY may continue the uptrend!
If it goes up set the first target at 82.750
If it goes down you can set the target at 73.400
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
AUDJPY - LONGThe counter AUDJPY is in the flat-top resistance line from 11th December. Yesterday the counter has broken out the resistance line and it is expected to move even more upwards. Therefore long is more suitable for this counter and the bullish trend is expected to start soon. The upward movement of the MACD curves gives additional support to the description.
Short AUD/JPYAs per weekly trend line, it is in rising wedgr and as per Elliot theory, it is at its 5 th point of impulse and now is ready for correction
CMP - 78.768
SL - 81.851
Target -
T1 - 72.810
T2 - 70.786
T3 - 64.308
💡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
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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.
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Rising wedge - SellPrice is forming a rising wedge pattern and highly suggestive of sell trend soon.
Remember trading is a game of probabilities, we dont know when will the pair commit to itself, but we know it will eventually happen.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
AUDJPY - Falling Wedge at the supply zone - BreakPrice at the supply zone forms a falling wedge pattern and it breaks up to reach the supply zone once again.
This time it is expected to break this level to reach the key level and if closes above then price will move further to target levels.
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AUDJPY - LONGThe counter AUDJPY is in the ascending triangle from 26th November. A flat-top resistance line and a support trend line together forms an ascending triangle. Today the counter has made entry in the support trend line at the price 76.49 and it'll be the right time to place your positions. The price is moving upwards, which means long is preferable for this condition. The bullish trend will continue further.
Rising wedge - SellPrice is forming a rising wedge pattern and suggesting of a drop soon.
Will wait for all my check list to be met and then look for entry of the trade.
It does have lot of potential to the downside and multiple scale in opportunities as well.
