FX:AUDJPY Australian Dollar/Japanese Yen
I suspect that the glass is beginning to break..... but waiting to see how it reacts here... if it breaks the consolidation range I normally let it run 50 pips and pullback give the formation and go. If it runs we are long back to 83500. Pull to break even when you get 100 pips. If it does not break it we are going back to the bottom of consolidation. HAPPY WEDNESDAY!!!
Trade active: ON AJ, there is a possibility that this could dip back into that purple zone a bit... so take part of this trade off or pull break even and keep running to 83500. THANKS!!
Trade active: About 30 more pips on this... I am break even at 82.30. Happy Thursday.
Trade active: First target reached for 200 pips... expect a pullback to 82.30 the market will short back toward the pink line... Thanks!!
Trade closed manually
Hi Rocha. I am looking for a pullback now... Hope you rode it for some pips If you look at this pair on the monthly chart, Its a consolidation fiend. draw your monthly and see where it is ultimately headed..... down I believe. I am off now. If anything we could get a pullback to the four hour trend line and then a bounce north.
Thanks for reply Hope, I actually did took a few pips out of this one, did a partial sell at 83.4 and I believe we had a pull back, went back to that level and I sold the rest. Great trade indeed, thank you. I am learning a lot from your charts, very new to wave analysis and doing plenty of reading on it (lots of learning). So thank you for sharing your ideas, it helps me to verify my and of course, learn new things.