I posted AUDJPY Long Trade setup last Friday.

The price continued to drop from my focus zone, but I think this setup is still valid.

The basic idea behind this setup was

a) Daily Ichimoku Cloud will support the price
b) At the bottom of up-channel on Daily (regular) chart
c) On H4, the price broke 55EMA and forming Double Bottom??

The above 3 elements are still valid.

As a trigger, here is the hourly chart that I showed on Friday.

(Posted on Friday)

2015-12-18_16-43-47-AJ5

And here is today’s chart.

2015-12-21_14-05-05-AJ4

The price went up to 55EMA and down.  Thus this pair may form Double Bottom or even Higher Low.

As a Buy zone,  we could buy this pair now, or you could wait for the next Higher Low to be more conservative.

 

The market is very thin this week.

So I am not strongly suggesting you to trade.

But I hope this analysis will help you build up your own trade plan.

 

YJ Baik – Forex.Today @ Tokyo

 

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.