Technician
Short

AUDJPY : Time to Short

FX:AUDJPY   Australian Dollar/Japanese Yen
2375 41 32
Shorting within the context of the overall bearish trend

  • Overall long term trend is Bearish . Series of lower highs and lower lows remain intact.
  • Break down below the low of the recent doji
  • Failed to hold above 94.00 resistance
  • Potential lower high and resumption of the bearish wave

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Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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Technician

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91.80 support was taken, second target remains in play!
-1 Reply
thanks for the sharing....
Reply
You're welcome
-1 Reply
By the way, AUD does look weakest at the moment, even AUDNZD pointing down, this could be quite an extended rally down
Reply
First target hit
-1 Reply
HiTech PRO Technician
Good job, there is very good chance of the second target hit, probably even lower
Reply
Agreed
-1 Reply
HiTech PRO Technician
I am short eurjpy and gbpjpy
EURJPY SHORT TRADE SETUP
GBPJPY SHORT TRADE SETUP
Reply
Good. But why short two correlated pairs?
-1 Reply
HiTech PRO Technician
Currently I am taking all signals, will be working on hedge strategy later
Reply
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