Hi guys, OANDA:AUDJPY Lets look at structure for a minute.
4hr time frame: Looking at the 4hr time frame to start we see that the pair begins trending down and then breaks its down trend January 3rd by breaking through the Previous high. Later the pair retests that level and then resistance becomes support!
1hr Time Frame: Same idea as the 4hr chart. We approached the new support and bounce right off.
15min:
the pair is trending down so we must look for a buy! given the longer time frame is a Long as well.
5min:
Broke out of the down trend temporarily and then continued down. Again lets look for the pull back and get in there!!
No indicators used so lets see what happens.
I am Long at 85.110. I seriously need patients!.....