AUD/JPY

AUDJPY has the rising triangle on shorter time frames, but with trend line and Greece this weekend, I don't want to be holding anything ovr weekend.

Possible entry to long AUDJPY after breakout above ascending triangle. May have to wait till price retrace to either the breakout level and/or fill the monday opening gap


LONG AUDJPY @ 79.40-60

STOP LOSS 30pips

1st TAKE PROFIT @ 80.40-60 (+100pips)

2nd TAKE PROFIT @ 82.50 (+300pips)

my current position in AUDJPY

Hi,
I am going to trade with AUD/JPY today when the news Philly Fed Manufacturing come out at 9:00am. If actual number will be bigger than expected for 5 units I will start buying AUD/JPY. Given the history I can see that this currencies make large movements on this news. For example on 20th of October, 2011 positive deviation of 18.2 launched AUD/JPY for 29.1 pips in just 5 seconds.
What do you think about my technique? Would you set my triggers differently?
Have a nice day and good luck trading!

Hi all,
Again today I am going to trade on AUD/JPY on news New Home Sales US. Given the history I could gain as high as 15 to 20 pips in first few seconds after release. The forecast value at 9:00 am 2012 is 347K and expected range is from 320K to 362K. I will trade with trigger 20K. I hope deviation will be high so I can capture as many pips as I can.
Any comments on my strategy?

Too much testoterone on audusd file :-(
I'm short again on AJ. It failed to retrace to the H support broken this morning (see my post on the other thread). Targets 7980 and 7930.

The broken support is now resistance. Considering to add another short. If resistance is broken, i'll exit my short (with loss).

Up of the channel. And after downward may be. If not, I'm in trouble.

She is back at step 0. My support turned resistance is again in play as support. It will be broken again I guess.
There was a good short opportunity (cross of the purple and upTL) this night, but my MM haven't permitted me to add more short.
There are some experimented and really very good traders who are trying to long UJ, but I believe that UJ will not rise before ~ sept/oct. Untill sept, uj will sidewalk. I'll post a UJ chart later. This is why I short AJ.
Waiting NY opening AJ could go to 80.90 and give at this level another opportunity so sell.

If Aud remain under 225, it would be great fo rmy AJ short . Yen has done her part of the job !!!

where is the volume ?

my trading plan in now void. looking for a good exit point :-(

You might have been shorting inside a big bull flag, if so we might see 82 very soon, probably with some help from Bernanke and QE3 hints.

Thanks stulic for you input. I appreciate. what is your understanding of the AUD action. I traded AJ with the following 4h aud in the mind. But the aud is making me idiot.

I'm fairly sure the move is largely fundamental. RBA is expected to be hawkish in their meeting minutes especially after unexpected rise in monthly gdp in June and also there's increased risk appetite in the market expecting the Fed to move soon with more stimulus. I use charts just for entry/exit points, always trade the sentiment.

stoploss hit this night. the week and the day begin with a loss. That's the game.

took a very small short. something is not clear (at least for me) with AU price action. I accept to pay for clearing my mind.

exit my mini short. Not enough pips to cover my earlier loss. But I'v got explanation for the aussie action. she really caught me. chart later

at least i got my tl validated.

I think jpy have got big story will be coming fall all cross. Because BOJ going to enter.