Trade plan 31 August 2016

AUDJPY Daily

-Daily chart Price Action: Price bounced off the 61.8 fib zone forming a Descending triangle, price recently failed to break through Psyc Level 78.1500 Stochastic: is currently overbought Market: The 55 and 21 Moving average indicate a bearish trend

AUDJPY H4

-H4 chart Price Action Price is currently at weekly resistance pivot point WR2 with a possible bounce off the 61.8 fib line, also failed to break through the Psyc Level 78.16200 Stochastic is at the overbought zone Market The 55 and 21 moving averages indicates bullish market

AUDJPY H1

-H1 chart Price Action Price is currently at daily resistance pivot point DM4 Market The 55 and 21 Moving average indicates a bullish market Planed Entry Looking for a double top or head and shoulder patten on the H1 plus a role bearish reversal on the either M15/M5

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