Plenty of activity in the markets to start the week! AUDNZD moved nicely.
There was an opportunity for a short on the second touch of the outer trend line (reversal high test followed by bearish engulfing candle on the 4HR chart)
D - Still a couple of hours away from the close but price is in an overall valuable area as it is just after the third touch within a big ascending channel.
4hr - breaking down nicely but remaining patient for a corrective structure in a possible continuation. a go to entry is a hover/ascending channel near the double bottom/ascneding trend line
1hr - similar to the 4hr, it is in an area of a double bottom and can possible head back up for a third touch within a bigger corrective pattern, however its more probable it will continue down if there is a nice correction.
currently still in the USDJPY position- was taken out on the first trade from spreads and gapping but was reentered last night over, yen pairs looking nice for shorting!
There was an opportunity for a short on the second touch of the outer trend line (reversal high test followed by bearish engulfing candle on the 4HR chart)
D - Still a couple of hours away from the close but price is in an overall valuable area as it is just after the third touch within a big ascending channel.
4hr - breaking down nicely but remaining patient for a corrective structure in a possible continuation. a go to entry is a hover/ascending channel near the double bottom/ascneding trend line
1hr - similar to the 4hr, it is in an area of a double bottom and can possible head back up for a third touch within a bigger corrective pattern, however its more probable it will continue down if there is a nice correction.
currently still in the USDJPY position- was taken out on the first trade from spreads and gapping but was reentered last night over, yen pairs looking nice for shorting!
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USDJPY Short
Reid_Hicks
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about USDJPY