Technician
Long

(J) Trade 3 : Speculating on a Rebound of Support #forex

FX:AUDJPY   Australian Dollar / Japanese Yen
3489 36 90
Update : Target reached without triggering entry.. Trade Cancelled.
==================================================================
Trade 3: Pending Long AUDJPY             @ 94.65
S.L @ 93.95
T1 95.60
T2 96.75

For 29,400 Balance, and 2% risk per trade=$588, Position size = 1 lot ( 0.5+0.5)

==================================================================

Reasoning:
  • Short term up trend , higher highs and higher lows is still intact as the latest swing low at 94.57 is holding so far.
  • That low coincides with 38.2 retracement level for the latest bullish wave
  • 50-days SMA is forming another potential support
  • We have see two pin bars today and the day before.

Wish me luck and best of luck for everyone.
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My best regards
Technician
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Simple and easy to understand setup. Thank you.
Reply
Thanks for your analysis Technician. I'm learning a lot from your charts and honest opinions. Takes a big man to do this. Keep up the good work and good luck.
+2 Reply
Good luck! Hope it will be a profitable trade.
Reply
Thanks Technician, I didn't miss the trade, I went long anyway at 94.87. I was pretty sure about the Aussie job report. Thanks!
Reply
Great you made some profits.. Good luck
+2 Reply
Technician,
now market around 95.60, which was our first target. what should you do now? close this order or wait?
Reply
Ashif, I missed the trade
+1 Reply
ashif030 Technician
yeah....I also missed only for few pips :-(
Reply
Update : Target reached without triggering entry.. Trade Cancelled.
+6 Reply
Nice move up, but did not hit the entry for me.
Reply
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