I was taking a look at AUDJPY because I haven't been in a while. When I take a look at the bigger timeframe like MONTHLY. I see that the market is at a huge point. Will it break it right away? I don't know and because its on the MONTHLY timeframe, I don't expect it. But who knows... It could.
So what I will do, instead of buying high or do a risky sell, I will wait for a perfect entry at the lower level. My setup is pretty simple. We can see on bigger pictures, an inverted head n shoulder. Thats my first confirmation of a strong buying area. Then in the same area on lower timeframe like daily, we can see a beautiful perfect gartley that would complete in the same area!
Long term I do believe AUDJPY will go really high but I hope there will be one more bearrish leg to our entry so we can get in! Otherwise, we will just wait for another setup!
Thank you,
PC
So what I will do, instead of buying high or do a risky sell, I will wait for a perfect entry at the lower level. My setup is pretty simple. We can see on bigger pictures, an inverted head n shoulder. Thats my first confirmation of a strong buying area. Then in the same area on lower timeframe like daily, we can see a beautiful perfect gartley that would complete in the same area!
Long term I do believe AUDJPY will go really high but I hope there will be one more bearrish leg to our entry so we can get in! Otherwise, we will just wait for another setup!
Thank you,
PC