W33 - AUDJPY dr 91

OVERVIEW

equal in:

• EURAUD

weakness of AUD in:

• AUDCHF
  
• AUDJPY
• AUDNZD
  
• AUDUSD

strength of AUD in:

• AUDCAD
  
• GBPAUD

OVERALL FOCUS ON AUD: buy this currency
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WEEKLY:

Target levels reached, potential for correction.

2h:

Target levels reached, potential for correction. Not much bearish structure, which is good.

1h:

The blue sequence is the only bearish structure we have and it didn't stand any chance. This indicates a high degree of pressure from the buyers. Also the correction of the bullish sequence wasn't reached.

30m:

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WHAT DO WE WANT?
We see that the bullish structure couldn't shoot up, with the second attempt being a high on the same price level as the one before. We expect it to drop to the whole correction level, before activating an internal sequence. Then it could reach the target levels or drop again to the whole correction level before finishing the sequence.
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DECISIONS
risk vs. profit: (-- / - / 0 / + / ++): +

We will make a long order at the whole correction level. There is still a chance, that the sequence doesn't reach the whole correction level. But better safe than sorry.
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Neither the analysis described here, nor my updates are financial advice and should not be treated as such. They merely represent my ideas by applying the system I learnt from Stefan Kassing and are my interpretation of the system with certain tweaks.
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