AUDJPY 80.700 ???
CURRENTLY WE ARE SEEING AN AGGRESSIVE REJECTION OF LOWER PRICES AS THE MARKET RETESTED OUR 4 HOUR TRENDLINE MAINTAINING MARKET STRUCTURE.
CURRENTLY AS ANALYSIS IS BEING DONE, I AM SEEING A RETRACEMENT BACK TO THE 79.100 LEVEL WHERE IF WE FORM ENTRY CONFIRMATION WE CAN LOOK FOR A MOVE FURTHER UP OF ATLEAST 155 PIPS TO COMPLETE OUR -61.8 FIB CONFLUENCE EXIT POINT AND 4 HOUR PRIOR SUPPORT TURNED NEW RESISTANCE POINT.
ALSO, IN LINE WITH OUR DIRECTIONAL BIAS WE SEE A PENNANT CONTINUATION PATTERN WITH CONFLUENCE OF A H4 TREND LINE 3RD TOUCH.
ALSO, WE SEE STRONG BULLISH ENGULFING PATTERN WHICH SHOWS THAT THE MARKET HAS MOMENTUM FOR A HIGHER MOVE UP.
79.100 ENTRY ZONE
80.700 TAKE PROFIT ZONE
78.445 STOP LOSS ZONE
HAPPY TRADING!
IG: BILLIONAIRS.ACADEMY
CURRENTLY AS ANALYSIS IS BEING DONE, I AM SEEING A RETRACEMENT BACK TO THE 79.100 LEVEL WHERE IF WE FORM ENTRY CONFIRMATION WE CAN LOOK FOR A MOVE FURTHER UP OF ATLEAST 155 PIPS TO COMPLETE OUR -61.8 FIB CONFLUENCE EXIT POINT AND 4 HOUR PRIOR SUPPORT TURNED NEW RESISTANCE POINT.
ALSO, IN LINE WITH OUR DIRECTIONAL BIAS WE SEE A PENNANT CONTINUATION PATTERN WITH CONFLUENCE OF A H4 TREND LINE 3RD TOUCH.
ALSO, WE SEE STRONG BULLISH ENGULFING PATTERN WHICH SHOWS THAT THE MARKET HAS MOMENTUM FOR A HIGHER MOVE UP.
79.100 ENTRY ZONE
80.700 TAKE PROFIT ZONE
78.445 STOP LOSS ZONE
HAPPY TRADING!
IG: BILLIONAIRS.ACADEMY
Trade attivo:
ENTRY: 79.247 AND STOP LOSS MOVED INTO PROFIT 79.260 CURRENTLY
Trade chiuso manualmente:
Take Profit 1 Reached. We are waiting on further confirmation to enter the market