About meI've 14+ years experience in the Financial Markets, including working as a stockbroker in the City of London. I have written financial articles, hosted trading webinars, and presented at trade shows. My passion is FX, specializing in technical analysis
Price action on daily gives signs of bearishness:
* lower highs
* interaction with previous support/resistance
* interaction with upper linear regression channel
* bearish reversal candle
Stop loss above the daily high on the 11th June 0.7494
Initial profit taking of roughly 1.5:1 reward to risk around the mean of the linear regression channel.
Shorting based on on using the linear regression channel to establish value for money.
The price was overbought on the daily and H4 (i.e. interacting with the upper linear regression channel). The previous two days candle have been toppy and interacted with previous support and resistance areas. This adds weight to the decision to short, as well as a reference...
Using linear regression and resistance to guide this trade, across multiple timeframes there is reasonable indication that the price could be overbought and move lower.
At the time of the video, there was some support appearing on the lowest time frames (5, 15min) but should that get broken a move towards the mean of the linear regression channel is...
Shorting based on on using the standard deviation channel to establish value for money.
The price was overbought (i.e. interacting with the upper standard deviation channel) on Daily, H4, H1. The break of previous support which turned into resistance on the lower timeframes (15min and 5min) gave enough premise to short.
Stoploss placement above previous lower...
The AUDJPY appears to offer some good value for money to the short side.
The daily and H4 have been posting lower highs and lower lows. It's just above the mean of it's standard deviation channel for the most recent move.
Using the lower timeframes to time entry, the price has moved away from recent resistance and move passed previous higher lows. This gives...
Using the linear regression on higher and lower timeframes, AUDCAD is showing signs of being overbought. Therefore anticipating at least a regression to the mean which is one of the reasons for shorting.
STOPLOSS RATIONALE: Only able to display one chart on tradingview at the moment, but stoploss placement is above the previous lower high (evident on 4H and...
H4 and H1 both have good structure - lower lows and lower highs.
Linear Regression channels, those timeframes are show reasonable resistance, as well as reversal candle on the hourly.
Lower timeframes (5 and 15min) both showing interaction with the mean of their Linear Regression channels.