FX:AUDJPY Australian Dollar/Japanese Yen
Aud/Jpy Trade Idea
stupid question...ok... here goes, preface to say I trade futures and my currency watching until now has been futures, but branching out. AUDJPY should mean your 'Y', or, vertical axis here is AUD value, correct? If so, I read the written description you give says 'AUD long', but marks on your chart show an AUD short expectation, w/ your stop above and target below. N'est Pas? Help me out ... I'm rolling up my lsleeves to learn some FX lessons here as I smell blood in the water, Abe's blood. In the end I'll prob trade it within the derivatives I know well, but if I can get my act together and it looks good I might make some of my first FX trades here this/next week. Should be watching pound sterling too, right?
Sorry to respond to your comment so late. I honestly don't know what you mean all this x and y axis stuff. If aud is stronger than yen the chart goes up, if not it goes down. I also don't believe in indicators and all that mumbo jumbo, I believe in politics and price action. Still in position and its working like a charm :)