AUDJPY long investigation on the weekly

We follow the same process and identify areas of accumulation, stop-outs – areas where traders got stopped out. For now, we believe we have good reasons to think that the identified peak highs and lows are solid points of reference for the identification of lower TF chart elements. We also mentally note that considering we have a peak formation on the Monthly chart, the middle line (or fibo 50%) of the structure has already been hit and price reversed from there, leaving a nice pin for us to know that traders have got trapped at the middle line. Right now shorts and longs are equally trapped and we are in the middle of the most recent lows and highs. Lets investigate the Daily chart for more details.