Charts after the elections in the United States have returned to normality, and we can start looking for places to find trading positions. Welcome to the review.
Pair drawn an impulse wave down and after dropping under zone of support, quickly came back over it and is trying to grow. The target of bulls should be the zone of resistance around 1.0120. You can play under such an increase, I look forward to see price re-test defensible zone of support and look for long on h4 or h1 chart.
Pair AUD/JPY stopped at the local resistance. The aim for growth should be in the zone of resistance around 86.30. I look forward for the price to re-test recently broken resistance. If the upward movement will continue now with these levels, I look for the entrance on the chart H4 if there is a support zone (currently there is none).
This time H4 chart. Appeared a bullish impulse. If there is a correction ABC, I would look for longa from the chart H4 or the H1. Best for me would be if wave C ended at around 50 percent of the abolition of the increase wave, which is at the lower limit of local support area.
After explicit downward impulse we see now correction which reached resistance area, and slowly takes the form of ABC. Wave A was the fifth, so I’m waiting for one more climb up and a signal to open short position.
After strong rally, there was a correction. If it is ABC pattern or forms a triangle, I will look for a long in the vicinity of the support from the daily chart .
Pair reached a strong resistance area. For more than a week we can see consolidation just below it. Breaking up the zone will be an opportunity to look for long. For now, we have to wait because may appear a larger correction of last growth.
Pair after breaking major support zone on the daily chart returns back to its upper limit. Still downward direction is valid, so I will be looking for a Short after decline and resurgence to the area on the chart H4.