AUDJPY - Will The Trend Prevail?
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Strong downwards trend
- Retesting an area of resistance
- 61.8% fib retracement level touch
- Downwards trendline touch
- In a descending channel
- 8k short position increase for the AUD
- 2k short position decrease for the JPY
Bullish Confluences
- AUD is the 3rd weakest major currency whereas the JPY is the weakest major currency
- 8k long position increase for the AUD
- 4k long position decrease for the JPY
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our trading criteria has been met and our order has been filled. We are short looking for this trend to continue and push price down further.
Trade closed: target reached:
Trade Closed
(+1.98R) Made
After Trade Comments:
This was a great trade that we called out. Price perfectly hit out entry before then dropping like a rock to our take profit. Overall we're pleased with the outcome of this trade as this is the start to getting out of the lossing streak that we were in. This just goes to show what we've been telling you all about trusting your plan and letting your edge playout. If you do what you know works then you will be profitable. Trust your skills, trust your plan and let that edge playout. Don't worry about the immediate results you get but instead focus on the longer term picture as that is what matters. Let's not get to carried away with ourselves however and instead just focus on the next setup to capitalise on.
Stay Safe - The JPI Team
(+1.98R) Made
After Trade Comments:
This was a great trade that we called out. Price perfectly hit out entry before then dropping like a rock to our take profit. Overall we're pleased with the outcome of this trade as this is the start to getting out of the lossing streak that we were in. This just goes to show what we've been telling you all about trusting your plan and letting your edge playout. If you do what you know works then you will be profitable. Trust your skills, trust your plan and let that edge playout. Don't worry about the immediate results you get but instead focus on the longer term picture as that is what matters. Let's not get to carried away with ourselves however and instead just focus on the next setup to capitalise on.
Stay Safe - The JPI Team