deleonjonee

aud jpy potential short

Short
OANDA:AUDJPY   Australian Dollar / Japanese Yen
Vu Man Chu Strategy with Wavetrend (D1, H4)
1. Basic Rules
a. Only take Long when the price is above the 200 EMA in H4 & D1
b. Only take Short when the price is below the 200 EMA in H4 & D1
2. Check Market Structure using Daily TF (use Heiken Ashi candles)
a. Look for trends
i. Long – two higher highs / two higher lows
ii. Short – two lower highs / two lower lows
3. Wait for Vu Man Chu buy/sell signal on H4 timeframe
a. Enter Long – when price makes higher lows in Daily TF
b. Enter Short – when price makes lower highs in Daily TF

*** Look at Wavetrend indicator for added confirmation
Gold cross below zero line – LONG
• Death cross above zero line - SHORT
4. Stop Loss – Place stop using the previous swing high or swing low
5. Take Profit
a. TP1 = 1:1 RR
b. TP2 = 1:2 or trail profit

Indicators: Vu Man Chu Swing Free by Jazal, 200 EMA on H4 and D1 are used for trend confirmation, Wavetrend by lonestar108
Jonee de Leon