Reasons on Why I'm shorting AUDJPY!
Price Broke from Daily Trendline structure and as we know price moves in two phases: thrust and exhaustion. This current retest is the first exhaustion after the initial thrust as we wait for it to continue in its new direction.
Furthermore, I'm A HUGE fan of chart patterns and we see an ascending wedge which is... you guested it, a continuation pattern, telling us that we can expect to see price move down. Current price also correlates with a 50% fib level.
Waiting for the break of the wedge before I enter short!
Furthermore, I'm A HUGE fan of chart patterns and we see an ascending wedge which is... you guested it, a continuation pattern, telling us that we can expect to see price move down. Current price also correlates with a 50% fib level.
Waiting for the break of the wedge before I enter short!
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