This is an opportunity I missed overnight, this would of been a nice trade to take.
Price created a higher low and a kicked in with some bullish momentum, which would of been the best time to enter a position.
Unlucky but we move onto the next!
Here's a trade that I took yesterday on AUDJPY.
Currently +38 pips in profit and trade is developing nicely.
We have broken below a major key level of support, and currently retesting this level too. We look set to respect this retest and continue moving to the downside.
I will also be setting my stop loss to entry and removing all risk from this trade.
Here is a pair that I am watching closely...
I have outlined three different routes that price could take from here. The main factors that will be deciding the next move from here, are as follows;
- At the top of a key ranging area, with a lot of BULLISH pressure to move upwards.
- Recent HANGING MAN candlestick could indicate move higher.
- Although a...
I'm looking to BUY AUDJPY in the near future.
We are currently seeing a double top forming at the 76.000 area, with price making an aggressive rejection, failing to break and make fresh highs.
0.382 fib level has been a reliable key level in the past, and as acted as both strong support and resistance.
I'll be placing an order at 75.630, here are my reasons...
On the chart we see price has broken the trendline and hit its key support level where it was rejected - It is a key level as we can see multiple rejections on the chart if you look further back
It then retraced to the trendline and was rejected again
Once price has broken support we can look for sell entries to the target shown on the chart
AUDJPY - See a pennant structure forming here. Will be waiting for a breakout of this pattern before entering a position. Currently near a strong hourly, and 4 hourly resistance level as well, so if we break upside, and break above the resistance we can look to add more positions.
If we take a look at the chart previously once price broke support it made a rising wedge pattern and then fell through the floor.. I could be reaching BUT i see the same thing happening.
Looking to short to support, waiting for confirmation of a breakout
Price has now reached a key level of support, once broken it will be a sell to the green area
We can see in this chart price has tested this area several times last week before bouncing off, i believe we can get a few more short buys in before it starts to fall
ALWAYS wait for confirmation before jumping in!
AUDJPY - SELL
SL - 74.427
TP - 71.418
Hi guys, what a week ! Lots of movement in the market this week which is good to see, my bias for this pair is short (sell). I am looking for a spinning top or doji candle formation on the Daily time frame as another confluence to take this short and to allow the temporary bullish momentum to slow down. If this does form I will be scaling down to the 4hr and 1 hr...