JPYAUD trade ideas
audjpy sweep entry setupThe Australian Dollar (AUD) against the Japanese Yen (JPY) is an exciting pair for its relation to risk. The pair is often among one of the most highly correlated pairs to price action in US equities on a short to medium term basis. The pair generally tends to rise in a low risk environment on carry flows while the opposite is true when we see a 'risk-off' approach in the markets.
AUDJPYThe Triple Top is a bearish reversal pattern that can signal the end of an uptrend in a currency pair. The Triple Top usually appears after a strong upward trend in a currency pair, and indicates that the buyers may be running out of steam and the sellers may be ready to take control. This pattern can provide an opportunity for traders to enter into a short position in the currency pair.
Elliot wave swinger!!! #2market continues to show me bullish structure .correction may be finished looking to take a long position on a smaller lot size and short scalp heavy for the 50% fib zone. Using the DeLorean ema indicator to give entry on the 1hr timeframe waiting for 5,13 shift up showing buying momentum.
simple support and resistanceIf the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role.
AUDJPY LONG TERM ForecastHey Guys,
I have done my analysis on this pair.
First I checked in weekly view, its already made higher hide and its pullback to weekly order block zone.
After that in Daily view ,Its on support level with big down spike. for that i looked in H4 and H1 level to check why its made down spike.
I found reason for that, it made spike because there is imbalance area (FVG) in H1. Before price go upside, price required to complete the structure.
So now I am cleared that, Weekly structure made higher high and its came down because there is weekly order block.
Now we just need perfect entry to buy AUDJPY.
So now I refined chart with M30,M15,M5. I got below confirmation for Buy AUDJPY
M30 - Morning star
M15 - liquidity/inducement
M5 - BOS(breakout of structure- made higher high)
M1 - Price gone down to grab liquidity and bounce back from OB(order block)
See screenshots:
To view screenshot: copy link and paste in browser then remove all space from link(make sure not space in link, check after https word)
Weekly : https ://prnt.sc/gg0mzShuvd84
H4 : https ://prnt.sc/LL6pFvWQn3k4
H1 : https ://prnt.sc/0o3WZz1WnfSQ
M30 : https ://prnt.sc/D-RSMpP-Unx2
M15 : https ://prnt.sc/JCMAzht1p56Z
M5 : https ://prnt.sc/fJ1eRMM91fXC
M1 : https ://prnt.sc/DbTIXjLj-TkR
So as per my prediction price will go upper direction immediately on Monday morning
Take 3 entry with proper SL and TP.
Manage trade wisely.
I 90% sure that price will break previous higher high(LONG TERM TARGET : 98.583)
10% Not sure because i believe no one can predict 100% analysis.
Please like comment and share.
Let's go.
Good luck everyone. God bless.
BULLISH FLAG PATTERNEducation
Bullish Flag Pattern
This pattern is a bullish continuation which suggests further bullish rally.
It helps traders where they can decide for bullish continuation and extended rally, the Bullish Flag Pattern should be formed with the existence of bullish trend.
The break of the resistance from the drawn pattern is a sign for preparation of bullish setup, and price should not retrace more than 30% of the trend.