AUDJPY Will Price Action Structures repeat again and again ?

13 Okt 2020

Hello everyone:

Lets take a look at AUDJPY's higher time frame.

When we look at the price action before the Covid pandemic, we can see that there was a larger ascending type of channel to correct the price, then a sharp move on the intraday to push the price out of the channel.
We then see a period of consolidation, good correctional structure was form then the next bearish impulsive move happen.

Fast forward to current market conditions. We are seeing the same type of price action movement.

An ascending channel, correcting price up, then we see a LTF sharp impulse to push the price out. A period of consolidation once again, formed a correctional structure.

Will the price repeats itself again? the only way to be certain to to wait for the LTF breakout from that correctional structure, and if there is small continuation corrections forming then it can be the start of the next bearish run.

thank you :)

15 Okt 2020

Nota

LTF impulse out of the HTF structure, good to look for more continuation correction to go down more.

16 Okt 2020

Nota

See if LTF can develop more continuation corrections to give more confluence for the further downside move.