$ AUDJPY: Potential long signal again for FX: AUDJPY By IvanLabrie

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I think we’re about to experience a strong reflationary wave again, we have crypto, basic products , stocks bracing for a major rally, and the Aussie yen forming a monster base. The setup here is to buy if the price breaks out forming a wider bullish movement from the last true daily range (when measured from the last close to the higher). This would cause my RESignal indicator to flash a green triangle below the daily bar, which would signify that we are about to start a stable trend from here. We can define the risk and set a stop not too far below, which is represented graphically on the chart. The signal might not trigger in the next daily bar, but if it did, the entry and stop price in that chart would be valid.
I will update this as the chart takes shape. I had predicted fireworks in my previous $ SPY post, warning of a wide sentiment reset, which should mentally prepare us for another huge “winning” wave.
The last strong trend we had was after the Pfizer vaccine announcement, when we made outright murder with value stocks and financials. We now have the announcement of the Merck Pill, potentially triggering a new wave of reopening optimism, paving the way for an economic recovery, the first phase of which would be reflation.

Cheers,

Ivan Labrie.

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