AUDJPY waiting for confirmation

2021年5月18日

Expecting the closing of the hourly candle to confirm bias.

Plan A: Uptrend after breaking the handle around 85.147, long entry by the re-test of the broken resistance with TP towards previous swing high.

Plan B: hourly candle closing in a bearish tone for short trade confirmation. Target around the ascending trendline.

Price action has formed a double top for reversal. However, the previous supply zone is acting as strong support. Either way, the uptrend breakout could bring a steady a longer pips capturing.

Patience is a virtue. Always trade what you see, no what you think. Happy Tuesday!!!


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