AUDJPY - Week of May 14th, 2017

15 de mai. de 2017

Last week on Thursday, AJ closed on daily with a hanging man which reversed price to the bears. Since this happened at a daily POR I'm paying more attention to this, however the overall trend is up. Special note that a double top also formed so there is a strong probability that this reversal will continue to the downside. On H4 the bears are definitely in charge. For me this is a countertrend entry I can take now. I'm kind of leary on a countertrend but I'm going to test it right now. Let's see how this goes.