Blue Palm Institute Setup 💎
Pair💰: AUDJPY
Weekly Time Frame🖥️:
Weekly Excelsius View🖥️:
Daily Time Frame🖥️:
Daily Excelsius View🖥️:
4 Hour Time Frame🖥️:
4 Hour Excelsius View🖥️:
Explanation of Analysis📚
Weekly Time Frame📚: With how the weekly is looking, we are pretty extended and could be due for a push back down near the daily higher low (84.902), but price will need to continue to reject the daily lower high especially on the weekly time frame.
Daily Time Frame📚: Looking at the daily time frame, we just recently touched the top of block 3 in the rejection zone of
. With the rejection of the top of block 3, we failed to create a new daily higher low. Right now we could either push on up past the daily lower high and continue in its bullish trend or we reject it and break below the daily higher low giving us a short term bearish trend.
4 Hour Time Frame📚: Price is now almost completely out of the rejection zone but we still are in a state of consolidation between both daily levels. For Buys, we should wait minimum for a 15 minute candle to break above the daily lower high, form a new 15 minute higher high on the 15 minute time frame, then wait for a simple break of that new 15 minute higher high. For sells, same concept but the reverse. We should wait for price to break the daily higher low on the 15 minute time frame, then wait for price to form a new 15 minute lower low and once that is formed, a break of that new 15 minute lower low would be needed.
Pair💰: AUDJPY
Weekly Time Frame🖥️:
Explanation of Analysis📚
Weekly Time Frame📚: With how the weekly is looking, we are pretty extended and could be due for a push back down near the daily higher low (84.902), but price will need to continue to reject the daily lower high especially on the weekly time frame.
Daily Time Frame📚: Looking at the daily time frame, we just recently touched the top of block 3 in the rejection zone of
. With the rejection of the top of block 3, we failed to create a new daily higher low. Right now we could either push on up past the daily lower high and continue in its bullish trend or we reject it and break below the daily higher low giving us a short term bearish trend.
4 Hour Time Frame📚: Price is now almost completely out of the rejection zone but we still are in a state of consolidation between both daily levels. For Buys, we should wait minimum for a 15 minute candle to break above the daily lower high, form a new 15 minute higher high on the 15 minute time frame, then wait for a simple break of that new 15 minute higher high. For sells, same concept but the reverse. We should wait for price to break the daily higher low on the 15 minute time frame, then wait for price to form a new 15 minute lower low and once that is formed, a break of that new 15 minute lower low would be needed.