joebrownFX
Short

Planning a trade wayyy before it happens.... HERE'S HOW

FX:AUDJPY   Australian Dollar / Japanese Yen
I'm expecting price to return to the long term descending channel as there is a lot of liquidity there for the taking.

I expect this to happen via the channel breaking (wiping out stop losses) then price to continue downward. I have a trade idea already generated before price even reaches that destination, so when it does I am fully prepared for any scenario.

If you can try and look to the future then you will get a better feel for the markets.

I struggled to explain this one, sorry.

Happy trading!

Comments

Alternatively it might go down to 73.8 +/- 0.1 level then retrace back to 74.35 (just above where it is) retesting the grey support/resistance line you drew and then it will sink like the titanic.
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joebrownFX freddie1996
@freddie1996, There is liquidity for the taking higher up, so if banks want price to drop they will do so from a higher price. They will make much more profits by doing so. Currently it looks like a stop hunt of traders who went long off the gray channel. This is liquidity to drive price upwards, but let's see.
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I AGREE %
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joebrownFX ramyabdi12
@ramyabdi12, Thankyou :)
Reply
I totally agree with this!
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joebrownFX ianiixo
@ianiixo, Thankyou :)
+1 Reply
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