The Australian Dollar Japanese Yen.
Good afternoon Dynamic Traders,
Todays chart is of the AUDJPY, which should be put on your watchlist as it is coming into a position of AA as taught by 'The Dynamic Trader'.
Although three of the rules are in place, the fourth has yet to be confirmed and so patience is needed to keep off the trigger happy finger for entry until this confluence has been satisfied.
Whilst you are waiting for this to happen, you could also use your discretionary analysis to look at some possible reasons why this may not happen, i.e. former resistance and RN's thus helping to make a decision as when to enter should these be surpassed, otherwise it may turn out to be a 123/DT.
The trend is up but has had a deeper pullback than would have been liked and at present has tagged a fibonacci reversal with a spinning top candle with the latest up move, thus discretion is needed with this AA posibility confirming the need to await the final confluence.
As always please ensure to do your own analysis before trading.
There will be no analysis tomorrow.
Charts courtesy of AdvancedGet.