$AUDJPY: Potential long signal once again
Updated
I think we are about to experience a strong reflationary wave once again, we have crypto, commodities, equities, preparing to rally in a big way, and the Aussie-Yen forming a monster base. The setup here is to buy if price breaks out forming a larger range upside move vs the last daily true range (when measured from the last close to the upside). This would get my R.E.Signal indicator to flash a green triangle underneath the daily bar, would mean we are about to start a steady trend from here. We can define risk and set a stop not too far below, which is graphed on chart. The signal might not trigger in the next daily bar, but if it does, the price for entry and stop in this chart would be valid.
I'll update this as the chart takes form. I anticipated fireworks in my previous
SPY publication, alerting of a broad sentiment reset forming, which should prepare us mentally for another huge 'winning' wave.
The last strong trend we had was after the Pfizer vaccine announcement, when we made an absolute killing with value stocks and financials. Now we have the Merck pill announcement, potentially triggering another round of reopening optimism, setting the stage for economic recovery, the first phase of which would be reflation.
Cheers,
Ivan Labrie.
I'll update this as the chart takes form. I anticipated fireworks in my previous
SPY publication, alerting of a broad sentiment reset forming, which should prepare us mentally for another huge 'winning' wave.The last strong trend we had was after the Pfizer vaccine announcement, when we made an absolute killing with value stocks and financials. Now we have the Merck pill announcement, potentially triggering another round of reopening optimism, setting the stage for economic recovery, the first phase of which would be reflation.
Cheers,
Ivan Labrie.
Note
Note
Watching and waiting...s3.amazonaws.com/tradingview/snapshots/5/5Kj7Csbo.png
No signal possible yet, after today's close, we may know more.
Trade active
I didn't update this but I went long recently...for some reason the publication was now showing up in my ideas list when I went long and wanted to update it.Now
AUDUSD is bullish too: Note
Note
Trade closed manually
Trade active
Flip short: 
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