AUDJPY - Week of May 14th, 2017

OANDA:AUDJPY   Australian Dollar / Japanese Yen
Last week on Thursday, AJ closed on daily with a hanging man which reversed price to the bears. Since this happened at a daily POR I'm paying more attention to this, however the overall trend is up. Special note that a double top also formed so there is a strong probability that this reversal will continue to the downside. On H4 the bears are definitely in charge. For me this is a countertrend entry I can take now. I'm kind of leary on a countertrend but I'm going to test it right now. Let's see how this goes.


A better pic of closer -
55 pips and I have greatly exceeded my overall goal of 100 pips this week with all of my trades :-). Now if I can only understand the tradingview paper trading system. Maybe I will just use MT4 demo next week. https://screencast.com/t/cMVgNHXyat
Well that countertrend entry went over like a fart in a spacesuit. So distraction actually saved me here. I was charting on another pair and delayed this entry which turned out good for me. Bottom line is I will trade with the trend and leave the countertrend trades until I master one direction first LOL. I have changed this to a long and made entry. I am back in the saddle again. https://screencast.com/t/2sf7ii8lSsi
purepips purepips
@purepips, Had to re-enter the long trade. The paper trading system with tradingview takes a bit to get used to. I had trades opened all over the place. Anyway, this is the trade AGAIN :-( https://screencast.com/t/Rap0KzzIbrB