okay too early for bears here but it's facing huge resistance now... sooner or later it will correct
Daily Pivots: (S1) 1.0734; (P) 1.0761; (R1) 1.0793;
The break of 1.0728 minor support turned intraday bias in AUD/USD neutral again. At this point, we'd favor another rise as long as 1.0597 support holds. Above 1.0852 will flip bias back to the upside for a test on 1.1079 high.
I am Bearish Yen this year.
I acknowledge Yen may be oversold in short term. But volatile enough to continue declines against USD,GBP,EUR,AUD,CAD
I currently am short AUD/JPY
1st Target 85.10
2nd at 84.05
StopLoss at 89.95
Im looking for AUD to make a lower high against the Yen.
I have most success trading RSI divergences.
Was not looking for a head and shoulders although the pattern looks like it is forming.
(EMA's shown, 25,50,100,200)
Looking for other members analysis, opinion and sentiment.
I watched the old girl fall right through my entry
level of 86.50,there was no sign of any price action
to enter at that level,next valid entry for me was
85.75,i've gone long at that price with a stop at 85.30,
not sure about this trade but i like the RR and the swap rate,first target 87.30.
leaving this alone till the start of next month.
Nice call Ridethewave.
I didn't know that there is a discussion on AUDJPY
Anyway, here is my contribution
http://tradeaud.blogspot.com on AUDJPY only
Monthly-Nice Head and shoulder formation and also Flying Buddha formation
Weekly-Price Closed below the open of previous down candle and price is approaching 200ema
Daily- Inside Candle formation and 1-2-3 formation and 5/10 ema cross over
4h-Price is near 200ema it will move away from it.Expecting a downward move.
My hindsight is Downward
China Manufacturing PMI very good...
the pair should rally once the market open...
Long again at 84.14,SL 83.80.
Dropped right down to the 5 min chart
to pick this up yesterday,i'm happy that its
daily close was above my 50% pullback level,
first target 85.80 but looking for it to go higher.
My trading week finnished yesterday,bank holiday
here in the UK today and Monday so no trading till Tuesday,
lets see where we are then.
So,twice now i've thought that there was a light
at the end of the tunnel but all it were was another
speeding train about to run me over,never mind,no harm done.
I've made a new chart with some levels i'll be watching,
i just can't bring myself to short this thing,paying that negative
swap every day would make me burst into tears i think and with the larger
spread i've no interest in day trading it,so i'll wait for a buy entry.
I dont want trading on hunches to be a habit...
-But a small hunch of mine was no one will want to short this pair.
-Alot of big players simply need volume to trade with.
-Since alot of traders would want to BUY on dips with a large swap rate. Thats alot of volume to close out longs for LARGE holders.
The RSI divergence was my sign to hold my short in early march.
I had a 120pip loss at the Head's tip.
Closing 4/5 of this position in 10minutes or less.
swap was 7% of 500 pips after 28 days
All closed out at 200 moving average.
Getting long at 80.00
i still need to learn more patience to keep trades that long
I dont use stop loss's on most trades.
Im sure there will be those that say i should have put a stop on the previous high blah blah.
in trading works until it doesn't,well done this time.
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