For educational purposes only:
This year I am leading a solo campaign to bring the fun back into trading, to make trading as stressless as possible.
Well, hello positional trading!
I'm starting with AUDJPY for 2020. This is not the most volatile pair, but hey, steady wins the race!
1. AUDJPY is at a key level, near a weekly trend line.
2. H1 and H4...
MY ANALYSIS IS THIS HAS ROOM TO BUY ON THE DAILY UP TO THE 77.231 MARK
ELLIOT WAVE RETRACE SEEMS VALID, WAITING FOR THE 0.382 FIB RETRACEMENT ZONE
AIMING TO BUY UP TO THE 77 PRICE MARK ZONE - AND AWAIT CONFIRMATIONS TO SELL BACK (BASED ON DOWNTREND OF THE DAILY - SEE DAILY SET UP!)
We've reached the structure high of the ascending channel (as mentioned in the previous post) and have correctively broken it on the 15min timeframe (with a rising wedge). We've now broken back into the channel but since it's the daily close, we're going to wait until the spreads calm down (which usually takes an hour or so after the daily close). I'll be entering...
We've formed an ascending channel and have broken the HTF previous high (which is very good as we're catching people on the wrong side of the market). We're very close to the structure high of the ascending channel for that 3rd touch (and completion of the channel). I will be taking an entry on the retrace formed after we touch the structure high. But you can wait...
Large rising wedge on the daily TF. Expecting one last push to the resisting trendline from positive trade war news but then expecting a large drop similar to the flash crash come end of this month so get ready