AUDJPY Daily bullish signal.
Logistic Wealth Management
Strategist-Tanner Elphee
7/24/17
AUD/JPY
Forming tonight on the Daily chart is, what I know them as thanks to Trade With Precision, a PLT trade.
PLT - Precision life trade.. Or BLT (Bacon Lettuce Tomato.) The thing I love about these: they are very simple and straight forward. Just set and forget it. They require no market bias and no understanding of funnymentals (news).
Once the trade is placed there is no point in even watching the chart. Just check in on it every evening... Simple is better, and as Vera teaches us, less is more :)
Our setup candle is looking solid with a high of 88.271 and a low of 87.650.
Putting our initial entry at 88.274
Stop at 87.647
Target at 88.901
Secondary entry being taken halfway to the stop
Entry 87.961
Stop 87.647
Target 88.901
Will raise entries at close of bar. I understand this trend is looking exhausted and has officially formed a three wave thrust. However price is looking reasonable up here and we are clustering at a major level of support.
Comment, like and subscribe! I'm always open to others opinions!
Disclaimer: Trade at your own risk. LWM is a fictional trading firm at this time. Patent pending.
Strategist-Tanner Elphee
7/24/17
AUD/JPY
Forming tonight on the Daily chart is, what I know them as thanks to Trade With Precision, a PLT trade.
PLT - Precision life trade.. Or BLT (Bacon Lettuce Tomato.) The thing I love about these: they are very simple and straight forward. Just set and forget it. They require no market bias and no understanding of funnymentals (news).
Once the trade is placed there is no point in even watching the chart. Just check in on it every evening... Simple is better, and as Vera teaches us, less is more :)
Our setup candle is looking solid with a high of 88.271 and a low of 87.650.
Putting our initial entry at 88.274
Stop at 87.647
Target at 88.901
Secondary entry being taken halfway to the stop
Entry 87.961
Stop 87.647
Target 88.901
Will raise entries at close of bar. I understand this trend is looking exhausted and has officially formed a three wave thrust. However price is looking reasonable up here and we are clustering at a major level of support.
Comment, like and subscribe! I'm always open to others opinions!
Disclaimer: Trade at your own risk. LWM is a fictional trading firm at this time. Patent pending.
Trade active:
Original entry filled. Secondary entry order raised.
Trade closed: target reached:
I'm sorry my summer semester was coming to a close which required me to step away from the charts for a couple days. Trade was closed a 1-1 Winner July 25th.
Comment:
Just a thought, Look how nicely price broke the channel. After taking this trade, shorts should have been opened. Particularly 8/1/17 was a super nice setup bar...