www.varchev.com

AUD/JPY: Price Action signal for new short

AUD/JPY:

Date: 30 December, 2016

H4 Graph: Medium term up Trend, Short term short Trend

The price is making lower highs and this one is the 4th one. The price was not able to break above the horizontal resistance at 84.600 and also formed diagonal resistance. Price is belwo the 200 ЕМА.

Price Action: Two Doji bars at horizontal and diagonal resistance – Possible signal for short

DEM (14) – In the vicinity of the overbought zone

Alternative scenario: If the price breaks up above and passes over the horizontal and diagonal resistance, will cancel the bearish view.

Price for Entry short around: 84.450

SL:85.00

Jr. Trader – S. Fuchedzhiev


 Varchev Traders


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance