AUDJPY - Easiest Long Trade of 2019 (so far), 800 pip trade idea
At the time of writing this (1003 CST, May 10th 2019), AUDJPY has been down for EIGHT CONSECUTIVE DAYS. Let me repeat that a little differently: ADUJPY has had 8 consecutive days where the close was below the open on the daily candlestick. Do you know when that happened last?
September 12th – September 21st 2001
In other words, a long friggin’ time. It’s the longest consecutive down day period in 18 years. Man I feel old now.
Let’s also reflect that over a 22-day period, AUDJPY has dropped -5.42% or -437 pips with barely a retracement during that entire time. In fact, out of the 16 bars only two had closes above the open. Just two!
There is a new Law of Vibration Cycle that begins on May 16th, 2019 with the 4/8th inner harmonic at 76.15. Two powerful reversal zones sitting on top of each other as AUDJPY moves into 4-month lows.
Did I mention the historical daily lows in the RSI and the Composite Index? They’re there – oversold doesn’t even describe it – someone tipped over the whole bag of AUDJPY treats.
And finally, let’s look at the volume.
This is chart here is straight out of ‘Your Baby’s First Book On Technical Analysis’ – we have falling prices with volume screaming higher – 7 consecutive days of rising volume above the 20-day average. So what does this all means?
The risk/reward ratio here is just nuts. Easily risk 120 pips for 800+ pips.
September 12th – September 21st 2001
In other words, a long friggin’ time. It’s the longest consecutive down day period in 18 years. Man I feel old now.
Let’s also reflect that over a 22-day period, AUDJPY has dropped -5.42% or -437 pips with barely a retracement during that entire time. In fact, out of the 16 bars only two had closes above the open. Just two!
There is a new Law of Vibration Cycle that begins on May 16th, 2019 with the 4/8th inner harmonic at 76.15. Two powerful reversal zones sitting on top of each other as AUDJPY moves into 4-month lows.
Did I mention the historical daily lows in the RSI and the Composite Index? They’re there – oversold doesn’t even describe it – someone tipped over the whole bag of AUDJPY treats.
And finally, let’s look at the volume.
This is chart here is straight out of ‘Your Baby’s First Book On Technical Analysis’ – we have falling prices with volume screaming higher – 7 consecutive days of rising volume above the 20-day average. So what does this all means?
The risk/reward ratio here is just nuts. Easily risk 120 pips for 800+ pips.
Trade active:
Added to position at 75.79
Trade closed: stop reached:
stop reached