HiTech
Long

AUDJPY CHANGING DIRECTION

FX:AUDJPY   Australian Dollar / Japanese Yen
169 7 0
Long trade idea
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Possibly a sideways grind until the Nikkei decides to fall and crude continues the march down...if it does that at least.
Might take a good while to do that, probably 2 weeks.
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HiTech IvanLabrie
Its not a big target Ivan :)
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These lines are lines in the sand.
They are not a walk in the park to cross and currently contain the trading range for weeks.
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HiTech IvanLabrie
I do agree that the ranging is there, but the JPY is weak across the board
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It's not, fundamentally, it's completely over extended and the Nikkei is about to reverse.
Again, I don't trade lower than daily and weekly, because news for a whole day can cause insane fluctuations, which I don't want to deal with.
The daily and weekly chart are clear, and reduce the noise letting me trade in a more relaxed and potentially more effective manner in the short/intermediate term, possibly evolving into larger trend trades from time to time.

You can trade this from 4h or lower of course, many people do, but if you can't babysit your trades all day, I'd suggest otherwise.
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HiTech IvanLabrie
I have my signals on daily, its just that I look for more precise entries on 4h
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Everyone has their own method, it's fine as long as you abide by it and don't bend the rules. (if it works well over time that is)
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