Pennant - AJ
Mis à jour
AUD/JPY price action has outlined what looks to be a Pennant Pattern shown here on the 4Hr chart.
Pennant patterns are made up of a Lower Highs and Higher Lows into a "Pinch Point". These patterns, given the right circumstances, break Bullish OR Bearish so its important to monitor price while its in "No Mans Land" and WAIT FOR THE PROPER BREAK so the market shows its hands and direction!
Fundamentally, AUD has a heavy news day with CPI and Gov Bullock speaking on Tuesday along with JPY having its Tokyo Core CPI on Thursday!
*BEWARE OF FALSE BREAKS!!!
Pennant patterns are made up of a Lower Highs and Higher Lows into a "Pinch Point". These patterns, given the right circumstances, break Bullish OR Bearish so its important to monitor price while its in "No Mans Land" and WAIT FOR THE PROPER BREAK so the market shows its hands and direction!
Fundamentally, AUD has a heavy news day with CPI and Gov Bullock speaking on Tuesday along with JPY having its Tokyo Core CPI on Thursday!
*BEWARE OF FALSE BREAKS!!!
Note
Price is giving the Falling Resistance quite a fight! Possibly looking for a BULLISH BREAK with the Asian session tonight!
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
Telegram - t.me/+l3fTcsZu91ZiZDkx
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.