AUD/JPY is posing some interesting setups. The daily chart displays a textbook rising wedge chart pattern (blue dotted lines), which AUD/JPY broke through 5 days ago. So even though the overall trend is bearish , the market is currently in 'Pull back mode' and is likely to retest the 88.400 area (Red rectangle) before continuing its bear trend.
Note: Keep an eye out for bearish evidence at the 88.400 level before entering this trade.
1. Rising Wedge Chart Pattern - marked by blue dotted lines 2. Three black crows - found at the tip of the rising wedge pattern 3. Bearish engulfing - engulfing the previous candle on daily chart 4. Bearish engulfing - evident on the weekly chart
BULL INDICATORS:
1. Bullish pin bar ( daily chart ) 2. Price rejects 86.753 area, a key monthly/daily support level - marked by red dotted line.
评论
tony12000
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Im going to try to get short around 88.....(wait for reversal candle)....
Piet.Hein
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Good luck! :D
tony12000
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Do you still like your short?
Piet.Hein
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hahahah, yes, still. Why? What you think?
tony12000
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lol!... just curious.. I like your publications.. all on the daily charts..easy for me to read!!!!
Piet.Hein
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And easy to me to analyse! :p Daily charts a cleaner
tony12000
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i have a SL at 88.80
Piet.Hein
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my currently at 90.7, but when it goes down I will move to break even, what was your entry?
Piet.Hein
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Original stop since entry
tony12000
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unfortunately 87.50...I was without my PC for 5 days and wanted to get in!..... little worrysome after todays rally!