Technician
Short

AUDJPY : Time to Short

FX:AUDJPY   Australian Dollar/Japanese Yen
2373 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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Thanks. I entered short @ 93.6000
Reply
well, it seems like you are enjoying the profits :D
-1 Reply
Hey technician, looks like i missed on this one. Thanks for sharing any ways :)
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Technician TOP moneymaking
hey mate, why ?
-1 Reply
moneymaking Technician
The trade is already in profit, wasn't the entry at the opening of the current candle?
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Technician TOP moneymaking
Well i missed it , I haven't shorted yet.
+1 Reply
moneymaking Technician
Probably a retest would give us a chance to enter. Good luck :)
Reply
Technician TOP moneymaking
yeah i need it, having a bad day with crude oil.
-1 Reply
moneymaking Technician
DO you also do crude oil futures?
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Technician TOP moneymaking
cfd... i published the trade yesterday. But war in the middle-east news spiked oil higher
+1 Reply
The range was obviously penetrated suggesting further upside extensions, agree on the break below doji but doesn't seem to be enough for the downtrend.... thats how I see it
AUDJPY LOW RISK LONG
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Good luck
-1 Reply
HiTech PRO Technician
the support on daily still holding, trend up currently intact, are you still short, if so what is your exit plan if goes against you?
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this is what i mean by support holding
snapshot
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Support there is no joke, this looks like a potential big range for now.
+1 Reply
Good Idea.
snapshot
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Moving in our favor, for whose short I would move stop to entry now if i were in.
-1 Reply
HiTech PRO Technician
Was a good call to short it, I got my confirmation only yesterday :) did't get a clear signal on audjpy yet, but have it on nzdjpy
NZDJPY TRENDLINE BREAKOUT
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Good to know you changed your bullish call
-1 Reply
HiTech PRO Technician
Well if key levels are taken out there is no point to hold to it, is it... :) Overall I see a very strong JPY across the board
Reply
Good luck, lets see if reaches targets.
-1 Reply
Is it good to short NZDJPY now?
Reply
Technician TOP MuathAlBulbul
I think the AUD is weaker.
-1 Reply
MuathAlBulbul Technician
Technician, I keep missing out your trades :(
Do you advise entering AUDJPY sell trade now as soon as the market opens?

Also, there is something I don't understand very well,

When we sell AUDJPY, it means that either AUD is losing strength, or JPY is gaining strength, right?
Okay, so you are also buying USDJPY, which means that either the USD is gaining strength, or JPY is losing.

So, looking in at another perspective, we might be saying that JPY is gaining strength in one trade and losing on the other, how is that possible?
Reply
Technician TOP MuathAlBulbul
Mate, I see both the JPY gaining strength and the USD gaining strength. For the USDJPY trade, I see the USD stronger then the jpy. Get me?
-1 Reply
Technician TOP Technician
You would ask me now why wouldnt you short the AUDUSD then, instead of AUDJPY. I would tell you that Its a kind of hedge against if i am wrong and the JPY outperforms the USD.
+1 Reply
MuathAlBulbul Technician
That is what I was exactly thinking. I see your point =)
Reply
MuathAlBulbul Technician
I am not that much of an expert in this regard, but is it an efficient way of trading to study all the available major pairs to decide which are the strongest and which are the weakest in an upcoming week?

I mean, looking at your analysis, USD > JPY > AUD, we came to this result from studying ONLY 2 pairs. If we study all the major pairs we can double check this information, right? (or more than double check it!)

For instance, if we study all 28 pairs, we can conclude a formula from the strongest currency to the weakest. It can be more definitive if studied correctly, cause you will be making your analysis double check itself going through all pairs.

You probably have been doing this all along on your own, but this is something that just came to my mind. Hope to hear your opinion on this.
Reply
IvanLabrie PRO MuathAlBulbul
I do this all the time, intermarket analysis...on a technical basis that is. There's a book by Ashraf Laidi on the subject, worth a look. Also, try to get a copy of George Soros' "Alchemy of finance".
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This one was great btw Technician!
Happy easter to you all.
+1 Reply
MuathAlBulbul Technician
I get you now :) thanks for explaining.

Anyways, do you advise getting on selling AUDJPY now, or is it too late?
Reply
Technician TOP MuathAlBulbul
from a risk-reward perspective its too late.
-1 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
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By the way, AUD does look weakest at the moment, even AUDNZD pointing down, this could be quite an extended rally down
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thanks for the sharing....
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You're welcome
-1 Reply
91.80 support was taken, second target remains in play!
-1 Reply
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