Potential bullish Cypher pattern on AUDJPY
D point (potential reversal area) is on a level that worked as resistance earlier. Now I´m expecting to see buying action there. This is potential support level.
There is also an ascending trendline to be tested on that same level. If the trendline holds and price stays above it, we might see price moving up. RSI is oversold and we might see RSI divergence later.
D point (potential reversal area) is on a level that worked as resistance earlier. Now I´m expecting to see buying action there. This is potential support level.
There is also an ascending trendline to be tested on that same level. If the trendline holds and price stays above it, we might see price moving up. RSI is oversold and we might see RSI divergence later.