AUDJPY Sell Idea
D1 - Triple cycle down and price respecting downtrend line.
H4 - Magnet zone formed with 38.2 fibo retrace of the triple cycle, 100 fibo extension of the double cycle and the downtrend line.
Potential bearish divergence forming and if the price moves higher and reaches this magnet zone, we can look for bearish reversal and join the bears.
Note: As we are nearing the end of December and we are trading the Daily + H4 combination please be careful with this trade as we might get stuck here during the holiday period. The closer we get to the end of December our trading is going to become shorter term like H1, M15 etc…
H4 - Magnet zone formed with 38.2 fibo retrace of the triple cycle, 100 fibo extension of the double cycle and the downtrend line.
Potential bearish divergence forming and if the price moves higher and reaches this magnet zone, we can look for bearish reversal and join the bears.
Note: As we are nearing the end of December and we are trading the Daily + H4 combination please be careful with this trade as we might get stuck here during the holiday period. The closer we get to the end of December our trading is going to become shorter term like H1, M15 etc…
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