AUDJPY (6H) - tricky situation.
I've been watching price action in the last few days on AUDJPY.
My balance of probability is 51% for the south, leaving 49% for the north. I know 'everybody' wants better odds than that. Well, I did say it was tricky - at least for me.
My estimates are based on my analysis. Not a 'feeling'. I wouldn't be trading this time frame anyway. I'd be looking for a nice small trend to milk - one that is nested within one of those candles. So - if a small trend moves south, I'd take that. If a small trend moves north, I'll go with that. I go where the market goes - but from 'under the hood'.
If others have a different perspective based on their own methodologies, feel free to share.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
My balance of probability is 51% for the south, leaving 49% for the north. I know 'everybody' wants better odds than that. Well, I did say it was tricky - at least for me.
My estimates are based on my analysis. Not a 'feeling'. I wouldn't be trading this time frame anyway. I'd be looking for a nice small trend to milk - one that is nested within one of those candles. So - if a small trend moves south, I'd take that. If a small trend moves north, I'll go with that. I go where the market goes - but from 'under the hood'.
If others have a different perspective based on their own methodologies, feel free to share.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Comment:
Last chance for a nice controlled loss. Ooops! Nobody is interested in a loss.
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