AUDJPY: Sell Opportunity Based On Median Line Analysis

FX:AUDJPY   Australian Dollar/Japanese Yen
846 15 31
Although in an uptrend we have a nice sell opportunity in AUDJPY             with price been rejected from the upper parallel of smaller median line (orange pitchfork ) and breaking below the consolidation it was moving in. I expect price to come up to test once more the parallel, where i have already placed my sell order with sl and tp as shown at the chart.
Trade active
Trade closed: target reached: We move stoploss at second position to breakeven for a free risk trade
Trade closed: target reached: 2nd target reached in the opening of the market :)
Hello Fxpro, Nice chart and analysis, thank you for sharing.!!!! but as i can see why don't you use indicators for exmple RSI?
Hi Manolis, thank you for your kind words. I sometimes use rsi or macd looking for divergences. I also use atr for better stoploss levels, and that's it. No way i will use indicators to enter a trade. They are all lagging and they won't help in your trading. Price action and market structure is everything you need in order to master your trading :)
MANOLIS PRO Fxprotrader
I agree with You, I use to enter my trade using divergence and especially momentum with RSI+MA
I enjoy working with pitchfork as well, that's why im very interesting on your sharing and ideas.!!!!!!
Thank you. All the best.!!!!!!!!!
Keep it up mate..!
Hi man, cool and fast trade!

I wanted to ask what you think about re-doing this scenario?
Since the drop was because the Killary news and now it's already corrected itself, should it fall back to previous('ish) plan?
Fxprotrader kamoflaaz
It still testing the slide parallel, and we might have another rejection. If you see a setup of your strategy at that level, you may go short. I am doing the same..
kamoflaaz Fxprotrader
Okay, that's what I was thinking, thanks and good luck!
Fxprotrader kamoflaaz
You are welcome :)
Hi FxProtrader Can You please tell me what is this Traders Club how does it work and what to do to join it. Most probably it is for professional traders. I gave a look but I do not know what to make of it. Is it any good for inexperienced traders? Thank you for your help
Fxprotrader RalfDiana
I honestly have no idea mate.. I think you should better as TV stuff.. They should know much better..!
Fxprotrader Fxprotrader
* you should contact with TV stuff
RalfDiana Fxprotrader
So am I wrong saying that You have nothing to do with this Trader Club because if it is so then I will ignore it.thanks
Fxprotrader RalfDiana
Me??? Absolutely nothing to do with it..! This is an ad from Tradingview.. :)
Perfection :)
Thank you..
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