MatildaK

Channel bounce, Trend trading

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FX:AUDJPY   Dolar Australia / Yen Jepun
Price is moving in a downtrend channel (between 2 descending trendlines on H4 timreframe). Price has reached top of the channel and is likely to bounce off. RSI is in overbought area showing price is ready to head back down. There is also a formation of a rising wedge, suggests continuation of downtrend.
Dagangan ditutup: hentian tercapai:
Price has hit SL. Because price has broken trend line, I am expecting a pullback to come retest trend line before proceeding upwards. Price is also in an uptrend on Daily timeframe.
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