I was expecting AUDJPY to fall down and have correction then bull resumption.
Bulls were strong so without correction it moved up within tight bull channel .
We had a bear BO of tight bull channel yesterday and we know BO of such strong trends usually is minor.
So bears push price below 20 EMA and created MAG. Then strong bulls came with consecutive bars and closed the bears gap.
Double Bottom Bull Flag + Bullish Momentum = Higher prices Expected !
Top of Weekly Trading Range can be bulls target.
NFA
Edited 04 Jan 2022, 18:07
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