First of all guys i run you through a profitable trade that we are currently in at safe trade academy and the reasons behind it, i then use the same strategy to analyse BTCUSD. Hope you can all grab some pips from this!!
This is the trade I took today, with my chart break down. I had a loss yesterday but risked managed it to 0.3% loss and forgot to post it. If you have any questions on my trades feel free to message me. Thank you.
After AUDJPY broke the ascending correction, we got a nice impulse down worth 220pips!
We are now seeing a correction (on the lower timeframe) which we are monitoring for a break. See chart update for lower timeframe analysis.
Goodluck and trade safe!
Price has been in an overextended cycle to the upside. We are now beginning to see downtrend structure forming on the 4HR Chart, with lower lows and lower highs. Price has bottomed out at the 80 whole level. Will the channel continue to be respected?
". There is still a possibility of temporary retracement to the suggested resistance line (83.33).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. AUDJPY is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
Nice two legged pullback off the 100ema acting as support, now into the trending bull move. Looking to target area of resistance highlighted. Looks promising as long as we have enough volume to push price, this looks like a good trade.
TRADING IDEA --- NOT AN INVESTMENT OPPORTUNITY!
Still long in my opinion
Admittedly in my previous analysis it was a bit rushed and I failed to see where support was.. Price has now entered support and im waiting to see a retest before taking this long to 89.100
After AUDJPY broke out of its bull run, it started to create a bigger correction on the daily timeframe. Price can be broken down into 2 phases; Impulse & Corrections.
Looks like price could move up once more to fulfil the 5 wave reversal pattern before we move down. We are also short on EURAUD for the short term due to AUD strength so we can correlate that...
Got some bullish momentum from the previous day that could be carried on today, taking a position based of 50% n 30m chart which is in line with a previous level of resistance which now could act as a support level
Here we have AJ on the Daily Chart.
Price has been respecting this trendline and is currently pushing higher towards the 85 whole level in price that has acted as previous resistance. We are very overextended on this pair, with AUD strength and JPY weakness across the board for months.
Lets see what happens on this pair if we hit the 85 level!