This snapshot is basically a way to place a trade on Sunday's during the Asian Session going along with the trend.
Here I decided to Short the pair AUD/JPY using a top down analysis starting from the monthly time frame to as low as the hourly. We traded a small lot size just to be on the safe side we did not want to risk losing more than 2% with our stop out at about 10$ since it is early in the week. JPY Pairs have been in control and we look forward to them still dominating while we seen that the AUD pairs have kind of been in a struggle. Methodology behind this trade was simple we caught the first pullback in price that we could find and will watch how the market reacts until we hit stop loss or decent size profit. We can trade worry free because the proper risk management is set and we are also trading on the right side of the market makers. We choose to short because we seen that several of our key indicators have price trading under them which is a confirmation that we are in right side of things. if this trade becomes a loser we are still not defeated because a 10$ loss can easily be obtained as long as we are on the right side of the trade.
Here I decided to Short the pair AUD/JPY using a top down analysis starting from the monthly time frame to as low as the hourly. We traded a small lot size just to be on the safe side we did not want to risk losing more than 2% with our stop out at about 10$ since it is early in the week. JPY Pairs have been in control and we look forward to them still dominating while we seen that the AUD pairs have kind of been in a struggle. Methodology behind this trade was simple we caught the first pullback in price that we could find and will watch how the market reacts until we hit stop loss or decent size profit. We can trade worry free because the proper risk management is set and we are also trading on the right side of the market makers. We choose to short because we seen that several of our key indicators have price trading under them which is a confirmation that we are in right side of things. if this trade becomes a loser we are still not defeated because a 10$ loss can easily be obtained as long as we are on the right side of the trade.