ZIOP Long: Alternate Bat and Trendline BreakZIOP has completed an alternate bat pattern. The pattern completion is confluent with a .886 fib level on a higher TF structure low to structure high. A trendline was broken and retested on 12/22, indication of possible upcoming bullish movement at the PRZ. A second trendline was broken today, which may be an opportunity to catch the breakout toward .382CD. Entry is placed at the alternate bat PRZ with target at .382CD and SL below structure lows. Look for heavier volume within the next couple of candles.
Bullishbreakout
AUDJPY: BREAKOUT IN BULLISH FLAG PATTERN, WAITING FOR RETEST 4HRHello Traders,
We've been getting several flag patterns lately, mostly in Aussie pairs where the base currency is Aussie. So here we have another valid bullish flag pattern on FX:AUDJPY , where we just got a huge breakout to the upside. This type of breakout was mostly due to the 2 high impact news events that came out yesterday (Nov.11.2015) @ 7:30 pm from Australia. It was the "Employment change" news where the actual value (58.6 K) was significantly higher than the expected value (14.8 K), which might have seemed to cause this huge of a move. See the chart above for more details.
NOTE #1: Watch for the key level @ 87.252 could act as good support level !!!
NOTE #2: The previously posted valid bearish flag pattern on this pair has been invalidated by the market (Link under the related ideas section) !!!
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
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