Opportunity Flow

Good Evening Dynamic Traders,

Hope you are having a lovely weekend. It has been a weekend of education and lessons learned thanks to a great sounding board. I cannot emphasise enough the need to review your trading activity after the event and use it as education to make improvements and refinements.

Well done to Sonia on a successful trading week.

Tonight's set up of of the AUDJPY. The weekly chart shows that price has reached a Fib breather cluster.

The Daily chart below shows that price has been bullish and has successfully penetrated the VI. It is now heading for the previous resistance level and if it breaks through it could continue the recent uptrend. If however, price fails to break through, it could create a double top and head downwards. Long term divergence can be observed on the MACD.














If we take a closer look at a slightly smaller timeframe notable confluences can be spotted for a 123886 set up. MACD is presenting divergence at the right areas, a reversal candle is present at point 1, the figure is in close proximity and a Fib reversal level has been tagged. In addition the 60 minute timeframe also presents MACD divergence. A smaller timeframe should enable an accurate entry in either case.














Prosperous Trading!
Bijal Shah