Audjpy corrective pattern dynamic trend line resistance
Dymanic trend line was added from 5 June 2020 to 31 Aug 2020
The trend line seem to confirm a resistance level on the ascending wedge pattern
we also see the breakout area above 1st and second resistance but not above shooting star and dynamic trend line indicated by thick red line.
In order for a rally we must see a break above the two levels.
Candles show that a spinning top was formed on break out not a good sign but not a reversal signal also.
We need to see a pullback turn into a bearish signal for a short position.
The rsi is showing the market is over extended but no turning signals yet.
Bollinger bands show also the same thing
The ichimoku cloud shows bullish support
ADX shows bullish strength is not as strong
But no turning signals yet.
So let's wait for a indication of a turn before entering a trade for a short
TRADE SAVE AND ALWAYS LOOK AT WHAT THE MARKET IS SAYING
The trend line seem to confirm a resistance level on the ascending wedge pattern
we also see the breakout area above 1st and second resistance but not above shooting star and dynamic trend line indicated by thick red line.
In order for a rally we must see a break above the two levels.
Candles show that a spinning top was formed on break out not a good sign but not a reversal signal also.
We need to see a pullback turn into a bearish signal for a short position.
The rsi is showing the market is over extended but no turning signals yet.
Bollinger bands show also the same thing
The ichimoku cloud shows bullish support
ADX shows bullish strength is not as strong
But no turning signals yet.
So let's wait for a indication of a turn before entering a trade for a short
TRADE SAVE AND ALWAYS LOOK AT WHAT THE MARKET IS SAYING
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.