AUDJPY remains overall bullish, but it is now retesting a strong confluence zone where multiple bearish factors align ⚠️
Price is currently testing the intersection of the resistance zone marked in red and the upper bound of its rising channel, creating what I consider a strong overbought area.
As long as this intersection holds, we will be looking for shorts 📊
A bearish rejection from this zone could trigger a healthy correction toward the middle or lower bounds of the channel before the next major move develops.
Until a confirmed breakout above this resistance cluster occurs, the risk-to-reward favors waiting for bearish setups rather than chasing the rally. 🔍
Will the bears finally force a correction from this overbought zone? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Price is currently testing the intersection of the resistance zone marked in red and the upper bound of its rising channel, creating what I consider a strong overbought area.
As long as this intersection holds, we will be looking for shorts 📊
A bearish rejection from this zone could trigger a healthy correction toward the middle or lower bounds of the channel before the next major move develops.
Until a confirmed breakout above this resistance cluster occurs, the risk-to-reward favors waiting for bearish setups rather than chasing the rally. 🔍
Will the bears finally force a correction from this overbought zone? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
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Trusted CFD Broker
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Trusted Crypto Prop Firm
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📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.