Audjpyidea
AUDJPY profit target reached for the 4th time, prepare for dropSell below 88.18. Stop loss at 88.41. Take profit at 87.73.
Reason for the trading strategy (technically):
Price dropped from our selling area perfectly and reached our profit target once again. We now see price testing our intermediate descending resistance line and we look to sell below resistance at 88.18 (Fibonacci retracement, descending resistance, horizontal swing high resistance) for a further push down to test 87.73 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support) once again.
RSI (34) sees multiple descending resistance line holding price down really well.
AUDJPY experiencing major resistance, potential upcoming drop!Price is now testing major resistance at 89.00 (Fibonacci extension, horizontal swing high resistance, bearish harmonic formation) and a potential major reversal could occur at this level to push price down towards 88.43 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDJPY testing major resistance, prepare for a dropSell below 88.98. Stop loss at 89.22. Take profit at 88.41.
Reason for the trading strategy (technically)
Price is testing major resistance at 88.98 (Fibonacci extension, horizontal swing high resistance, bearish harmonic formation) and we expect to see a strong reaction off this level to push price down towards 88.41 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 96% where further bearish momentum is expected.
AUDJPY dropped perfectly, remain bearish for a further dropSell below 88.43. Stop loss at 88.70. Take profit at 87.24.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area yesterday before bouncing above our ascending support line. This ascending support line would need to be broken to trigger a strong bearish move down. We still remain bearish looking to sell below major resistance at 88.43 (61.8% Fibonacci retracement, Elliott wave corrective structure) for a drop towards 87.24 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees major descending resistance line acting as resistance to push price down from here.
AUDJPY dropping perfectly as expected, remain bearish looking Sell below 87.89. Stop loss at 88.47. Take profit at 86.69.
Reason for the trading strategy (technically):
Price has continued to drop strongly as expected after breaking our major ascending support line. We remain bearish looking to sell below 87.89 resistance (Fibonacci retracement, horizontal overlap resistance, Elliott wave structure) for a further drop to at least 86.69 support (Fibonacci retracement, Fibonacci extension, horizontal support).
RSI (34) remains in a descending channel and is approaching pullback resistance.
AUDJPY has broken our support triggering a bearish moveSell below 88.46. Stop loss at 89.21. Take profit at 86.69.
Reason for the trading strategy (technically):
Price has finally broken our ascending support and overlap support at 88.46 to trigger a strong bearish move. We look to remain bearish and sell on strength below 88.46 (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 86.69 support (Fibonacci retracement, horizontal support). Our next intermediate support level to watch out for is 87.62.
RSI (34) is now in a bearish descending channel and we expect this to continue till it finds new support.
AUDJPY Daily Long !DeaPending Long @ 83.70
Stop Loss @ 81.30
Target @ 90.00
RR Ratio @ 3.04
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
AUDJPY Harmonic pattern! SELLOpen order with %2 Risk Management
Close Half at TP1, Stop to BreakEven
Close all at TP2.
Keep it simple. Cheers :)
AUDJPY Bollinger Band Spike, New Downtrend PossibleHi traders,
I have my trade on break-even after we moved lower once the 1H candle closed (my entry is at the first spike, green candle) and now I am anticipating a break of the support area marked in orange. Once this breaks, I will lock in some profits and very likely add to a 2nd position, depending how everything forms.
Be aware that trading Bollinger Band spikes require many rules and putting to break-even usually should not take longer than one candle after it went into your predicted direction. For more information simple head to my Telegram group which is free to join.
t.me
(This is not a trade recommendation!)
AUDJPY Quick reversal to the downside after support breakHi traders,
Bollinger Band Spikes give me the best trades but even if we have multiple spikes here, they are not valid for me. I look at the price action, the angle of the spike, previous support/resistance areas and so on. Taking every Bollinger Band spike blindly will get you in a lot of trouble. We also see a slight RSI Divergence.
In this chart, I am waiting for a clean break to the downside, breaking the support area, then entering after the candle has closed.
(This is not a trade recommendation!)
