AUD/JPY is starting to show a possible trend reversal on the DAILY CHART. It is approaching the Daily Support/Resistance Area that have been resisted 10 times.
The monthly trend is Bearish
The weekly trend is Bearish
The Daily trend is Bearish
With this possible trade we are going with the general downtrend.
Currency Strength Indication shows the AUD as VERY STRONG against the JPY, this is a bit of a concern for this trade idea.
The currency strength indication is NOT IN LINE with this trading idea
No Fundamental Consideration for this trade until 8 & 9 January 2020 on the Building Approvals and Trade Balance of the AUD which is expected to have a negative impact on the AUD which is good for this trade idea.
The Retail Community Outlook for this trade is as follows:
Around 1161 lots SHORT – 45%
Around 1397 lots LONG – 55%
This trade is SHORT – we go AGAINST majority of retail traders, which is GOOD depending on where the COT analysis for this trade currently is.
Entry:
Enter with a SHORT SELL around 75.954
Take Profit:
TP1: 74.033
TP2: 72.432
Stop Loss:
Stop Loss at around 76.226
Good Luck – Trade Responsible
Use 1% risk per Position!
Always strive to continuously improve your trading strategy and knowledge
“Rise and Rise Again until Lambs becomes Lions”
The monthly trend is Bearish
The weekly trend is Bearish
The Daily trend is Bearish
With this possible trade we are going with the general downtrend.
Currency Strength Indication shows the AUD as VERY STRONG against the JPY, this is a bit of a concern for this trade idea.
The currency strength indication is NOT IN LINE with this trading idea
No Fundamental Consideration for this trade until 8 & 9 January 2020 on the Building Approvals and Trade Balance of the AUD which is expected to have a negative impact on the AUD which is good for this trade idea.
The Retail Community Outlook for this trade is as follows:
Around 1161 lots SHORT – 45%
Around 1397 lots LONG – 55%
This trade is SHORT – we go AGAINST majority of retail traders, which is GOOD depending on where the COT analysis for this trade currently is.
Entry:
Enter with a SHORT SELL around 75.954
Take Profit:
TP1: 74.033
TP2: 72.432
Stop Loss:
Stop Loss at around 76.226
Good Luck – Trade Responsible
Use 1% risk per Position!
Always strive to continuously improve your trading strategy and knowledge
“Rise and Rise Again until Lambs becomes Lions”
Trade active:
Trade active, my entry was slightly early but trend is starting to turn, if all goes well we will be in the money soon with this one just slow markets due to holidays
Comment:
Eventually in the money and going very well
Comment:
On track, sell of 50% of trade and let the rest run on a trailing SL
Trade closed: target reached
Comment:
Possible new entry point approaching