AUDUSD - The Setup Is Looking Strong!
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 significance
- 61.8% fib retracement level
- In a descending channel
- Downwards trendline touch
- Recent USD news has been bullish
- The AUD is the second weakest major currency whereas the USD is the strongest major currency
- 11K long position decrease for the AUD
- 7K short position increase for the AUD
- 10K short position decrease for the USD
Bullish Confluences
- 1K long position decrease for the USD
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 entry requirements have been met and our order has been filled. We are short looking for the USD to continue staying strong as the AUD continues to weaken and for price to make a move to the downside because of this.
Trade closed: target reached:
s3.tradingview.com/s...shots/q/Q76VMTLo.png
Trade Closed
(+1.30R) Made
After Trade Comments:
This was a trade we entered into right at the end of last week which has now closed for a nice decent profit. Today we saw some bullish news come out for the USD which caused price to drop to the downside, eventually hitting our take profit. Whilst things weren't looking good at the start of this trade, we still trusted and followed our plan as we know if we do this then in the long run we will be profitable, and this is exactly what happened. Although price made an initial move to the upside we actually saw this candle form a long wick instead giving us even more confidence in our setup. This is why we say to people that when they enter into a trade not to look at it until it's closed because looking at this trade at the start would of played on most peoples emotions, but look how it ended! There was no need for those emotions to get in the way and although it's hard not to let that happen it becomes a lot easier if you just spend less time on the charts and don't watch your trades playout. Once you're in a trade and you've set your stop loss and take profit then there isn't anything else you can do other then to be patient and wait so why not spend that time doing something productive instead. This is the reality of trading, it's boring and requires patience, but if you're able to wait then you will be rewarded for that. Trust your strategy and look at the bigger picture. Don't just focus on 1 trades outcome but rather the next 100 trades! With that being said, onto the next!
Stay Safe - The JPI Team
Trade Closed
(+1.30R) Made
After Trade Comments:
This was a trade we entered into right at the end of last week which has now closed for a nice decent profit. Today we saw some bullish news come out for the USD which caused price to drop to the downside, eventually hitting our take profit. Whilst things weren't looking good at the start of this trade, we still trusted and followed our plan as we know if we do this then in the long run we will be profitable, and this is exactly what happened. Although price made an initial move to the upside we actually saw this candle form a long wick instead giving us even more confidence in our setup. This is why we say to people that when they enter into a trade not to look at it until it's closed because looking at this trade at the start would of played on most peoples emotions, but look how it ended! There was no need for those emotions to get in the way and although it's hard not to let that happen it becomes a lot easier if you just spend less time on the charts and don't watch your trades playout. Once you're in a trade and you've set your stop loss and take profit then there isn't anything else you can do other then to be patient and wait so why not spend that time doing something productive instead. This is the reality of trading, it's boring and requires patience, but if you're able to wait then you will be rewarded for that. Trust your strategy and look at the bigger picture. Don't just focus on 1 trades outcome but rather the next 100 trades! With that being said, onto the next!
Stay Safe - The JPI Team