Starting off this new week our first pair is one of my most traded pairs AUDJPY
As for my first pair is more market direction here are all the reasons to this amazing SELL setup
we’ve got a very bearish market structure
and a break back into a significant area in the market that has held a lot of trading activity for the past 3 weeks now
this a very traditional setup and famous in the around professional traders the break out retest patter which is know to be a very powerful pattern as well markets likely to touch the target price of 75.529
wouldn’t encourage you to sell straight away the direction is clear lets await 1 more bearish candle on the H1 time frame before entry!!!
PAIR 2 for this week will be the AUDNZD
This a pair that top on my watch list a pair I feel is generating a strong bearish Setup BUT NOT JUST YET the setup is not complete heres what we are waiting for before the big SELL!!!
As AUDNZD is trading in a CHANNEL / ASCENDING CHANNEL another famous SETUP
I feel that price will close below the slightly broker area at 1.08194 and retest causing a immense bearish momentum that will cause a break out of the channel and drive price to prior support at 1.07221 or even possible to find BUYERS kick in from 1.07754
Our 3 Rd pair this week is not really a pair lol its a STOCK NASDAQ
Famously traded by traders and well heard on business news
NASDAQ RED LIGHTS BUY AHEAD!!!
NASDAQ major reaction and REJECTION in price at a significant support level 11064.43 Price could immediately rise to the target price of 11255.94 or price could come back to test level once again at 11064.43 I would personally not fill into this trade unless price still comes to the level and test as for RISK to REWARD is not met but an amazing setup to show
Our 4 th pair this week not only is it my favorite pair but also a very strong setup has been made and is ready for reaction GBPJPY
As price test the significant area of 138.840 a massive drop is imminent!!!
price is expected to come to the trendline to create its 4 th touch at 136.520 and then continue the RALLY once again from an instinctive point of view we could even then expect price to break above 139.853 and retest to a target of 140.781
And the 5 th and final pair in this analysis and direction article is EURAUD also another pair I trade often
EURAUD having a great bearish like structure
and having to touch the trendline for the 3 rd time at a significant resistance level of 1.64720 which would drive price down to a extremely significant level at 1.64133 this dose not mean a reversal is imminent price has driven to the 1.64720 level with a quite bullish power but lets set us a sell stop order at 1.64534 this is where the downside potential will come from
I wish everyone the best of luck this week have an amazing trading week
And thank you for supporting my articles.