AUDJPY
Hello everyone. What we are going to see in this post is as I said earlier Australia Japanese dollar has come down as I said. I got good profit from this trade. You can click this link to read my short position analysis. I am very happy. Whoever participated in this trade like me will be very happy because it is a good profit as well as a good trade too.
Well, let it go. Earlier we took a short position in this currency pair and won it. Similarly, we will see if we can take a long position in this stock. As usual, our higher time frame view shows that the stock is in a bearish position. But there is a small double bottom in this stock as there are more buyers in this stock. So, if we want to buy this stock, we have to think about buying it. Also there is a little risk in buying it. Because this stock is traveling in a downtrend. However, since it has a double bottom, it is a bit risky for us to take a long position in this situation, but we cannot definitely say that it will help. It may go without giving a hand. The move up is a little strong but not a good strength. Because I don't see any change in the trend. What I'm seeing in this currency is that as usual the price went up and then touched the resistance and then came down again and that's it. There was no change in the trend and no resistance was broken.
So, if there is any change for me then I will definitely go long on this currency pair but for the current situation I will wait and not rush to go long on this currency pair. Because at this time big hands will stimulate our emotions and make us buy this stock and then make us buy it and then make us lose. This has happened in many trades.
So, it is better for us to wait for some time.
If you see another strong red candle, you can take a short position otherwise it is better to wait and if you want to take a trade either long or short position by risking your capital then you can take but exit quickly.
That's all for today.
It is wise to follow your risk management before taking entry.
I love to share my ideas. Feel free to revise the text and provide feedback. It makes it so personal and improve us in better ways.
Thanks & Regards,
Alpha Trading Station
Disclaimer: This view is for educational purpose only & any stock mentioned here should not be taken as a trading/investing advice. We may or may not have position in the stocks mentioned here. Please consult your financial advisor before investing. Because Price is the "King of Market".
Comment:
Traders who took short position can exit at 1:2 RR.