wolfstreetswinger
Long

AUDJPY- LONG - STILL VERY BULLISH

FX:AUDJPY   Australian Dollar/Japanese Yen
42 0 1
THE DAILY CHART IS LOOKING SLIGHTLY BEARISH BUT THE MONTHLY TREND IS UP AND WE NOW HAVE SOME RISING SUPPORT TO TAKE US OUT OF THIS DOWNWARDS CHANNEL VERY STRONG DAILY SUPPORT @ 77.546 WHERE THE KS LINE HAS TRADED FLAT FOR SOME TIME MORE CLOUD SUPPORT @78.019

4 HOUR CHART THE BULLISH TREND IS STILL STRONG RSI IS STILL ABOVE 50 AND HAESN'T BROKE BELOW 52. CLOUDS ARE UP PRICE IS CURRENTLY TRADING BETWEEN THE TENKAN AND KINJUN-SEN LINES WHICH ARE STILL PONTING UP. WE HAVE SOME STRONG SUPPORT AROUND THE KS LINE @AROUND 78.200 WHERE CLOUD AND CLUSTERS OF CANDLES ALSO OFFERING SUPPORT.

WE COULD LOOK FOR A KS LONG HERE IF WERE NOT TOO LATE AND THE PRICE COMES BACK FOR US.
MY ENTRY WOULD BE AROUND 78.230
WITH STOPS 77.905 WHERE WE HAVE NEXT LEVEL OF CLOUD SUPPORT
OVERALL TARGET FOR ME IS 80.200

IDEALLY BEST STOP WOULD BE 77.790 WHERE LAGGING SPAN HAS MADE PREVIOUS HIGHS AND WE HAVE MORE KS AND CLOUD SUPPORT.

Comment:
snapshot
Comment:
snapshot
Trade active: moved stop up to break even
Trade closed: stop reached: broke even will look for next long entry at the key level 77.546
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