A #short trade opportunity recently presented itself on the #aussieyen (#AUDJPY) #trading chart 📉.
This is indicated by the #bearish harami candlestick 🕯️ pattern just below the 100.972 horizontal resistance level.
This indicates a rejection of the same level, with potential price move in the downward ⬇️ direction (#sell).
Sufficient downward momentum should...
Aussie Inflation is higher than Expected but still lower than this time last year.
So considered a knee jerk reaction that would be why price has fallen towards previous levels quickly.
Traders saw this coming as they been buying AUD all week even though USD has been the strongest and centre stage the last few weeks but they all get a turn eventually even if it's...
Accepting that loss means:
1. Setting clear risk parameters: Defining how much you're willing to risk and sticking to it.
2. Diversification: Spreading investments to minimise exposure to a single asset or market.
3. Position sizing: Managing the size of your trades to limit potential losses.
4. Stop-loss orders: Automatically closing positions when they reach a...
AUD/JPY appears to be on track to test the monthly high (100.81) following the failed attempt to close below the 50-Day SMA (98.14).
AUD/JPY Rate Outlook
AUD/JPY may track the positive slope in the moving average as it extends the rebound from the monthly low (97.78), with a break/close above 100.90 (38.2% Fibonacci extension) bringing the December 2014 high...
Up move with all green candles, retracement with red candles. fine retracement on Fib (0.5).
Strategy based, Fib (0.318) retracement is mostly expected, but this one has a perfectly alligned Fib (0.5 retest).
Price broke above Fib (0) and I'm waiting for a retracement on Fib(0) for entry
Sell at 0.618 Fibo level which is 99. the bearish trend will continue at this pullback.
Tp 1 98.5 which is a pivot level of support
Tp 2 98. which is a 1h candle low you see on the screen.
AUDJPY is in a ranging uptrend and currently an opportunity of a buy is presented to us. The flag is a good pattern to trade because it is an everyday pattern that occur daily in all currency pairs depending in its price action. For now the AUDJPY can push up until the beginning of that flag.
AUDJPY Analysis
On the 1 Hour timeframe, price has rejected off a high probability orderblock and coming lower after a strong rejection off the orderblock.
There are 2 scenarios i am looking at:
1) Price comes down and breaks the most recent higher low at 102.204 to look for a break and retest on the 1 hour to continue shorting.
2) price to respect the 1...
A glimpse of the AUDJPY in the first half of 2024
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In this video I explain how to wait for the bullish momentum to stall out to then consider some short selling scalp trades targeting on 10-20 pips.
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AUDJPY is in bearish trend as it is printing LH's and LL's on 1H Timeframe. One can enter in short position at hanging man candlestick pattern in the corrective move. significant levels are marked on the chart
