Audjpy-short
AUDJPY Long Trade SetupHello traders.
I'm expecting either daily X wave and one more down move or totally upside, which will break the previous top.
I believe taking a long trade will be a good idea in both cases. As you can see, a correction is in the making. So, I put an entry order. Minimum target is the completion of daily X wave.
Trade with care...
AUDJPY Short Position (Venta)We have AUDJPY that made a rally to the upside breaking a down trendline, we are seeing that the price needs to retrace and the Fib Retracemente tool help us see that at 38.2 level has confluence with high timeframe. According to the Market Maker Method we see that price is forming the 2 level of rise.
AUDJPY 4H se ve que el precio rompio linea de tendencia bajista, generando una alzada predominante, vemos aqui el Fib de Retroceso desde el nivel mas bajo al mas alto y ver por un retroceso al nivel de 38.2 tambien coincidiendo con un soporte de alta temporalidad. Una venta con muy bajo SL esta muy deseable, con algo de 100 pips de ganancia
AUDJPY short for month of NovemberAUDJPY broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bear candle gives me enough reason to believe a down trend is about to begin.
My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0.
Each order contains a 30 pip stop loss and no take profit target.
These trades are designed to have 3 different exit strategies: 1) Stop out. 2) Manual closure. 3) End of month manual closure.
* End of month manual closure means that the month is over and trade parameters are no longer valid, therefore I will close the trades manually.
AUD/JPY - STILL CONSOLIDATING BEFORE ONE MORE LEG DOWNAs indicated on the chart we can see that there has been a strong impulse from the 90.xx levels down to the 87.xx and as we speak the pair is still consolidating and forming a flag formation. Flags as we know are continuation patterns therefore I expect some more downside, at least one more leg down to the 86.xx levels.
My personal details:
Short @ E: 88.70, SL: 89.40, TP: 86.00, RR: 3.86
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.