The following is the four hour chart of AUDJPY currency pair as of FEB 15th, around 2 AM EST. If you check the graph you can see that it is going in an ascending wedge pattern. If you observe the hourly graph it looks like it is going in a channel. But observing the four hour chart will give you a clear picture. But to enter the trade I will check the hourly chart and once the bottom support line of the wedge in the four hour chart is broken with a strong bearish candlestick in the hourly chart I will enter the trade. What do you guys say about this? Check the following picture.
AUDJPY ascending wedge
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