AUD / JPY

Discussion in 'Interactive Trading' started by jack, Apr 21, 2014.

  1. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
    Messages:
    2,427
    To kick off this pair discussion in the Interactive Trading board:

    Looks like we're range bound lately (1 hour chart below), pressing resistance right now which failed to break twice before in the recent past..

    [​IMG]
     
  2. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
    Messages:
    2,427
    I'm probably not giving this enough room...

    [​IMG]

    But I like how it's grinding along the resistance line in my previous post, I like the recent AUD strength in general across a few pairs, and if we make another attempt at breaking out of this range to the top side then I wouldn't mind grabbing a 3:1 off this.
     
  3. sqa

    sqa Village Scribe

    Joined:
    Jan 29, 2014
    Messages:
    2,201
    95.850 is something of a Double Sell Order Block, which is why the pair responded to it on the 23rd. So if it goes below, it's likely running back down.

    I'm not a Day/Really Short term trader, so I don't "see" an entrance location for a Buy. I would be hunting a Short, but this pair has been an utter mess for the last week. A whole lot of Order Pairing.
     

    Attached Files:

  4. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
    Messages:
    2,427
    I see the higher time frame sell zones.. but my trade was just a scalp on the idea that we test this resistance level hard for a possible break out. I mean, the stop was set at ~8.5 pips after all..

    Price danced just in front of my stop level multiple times (I did say I probably should give it more room..heh) but we've moved up a bit and I'm past the 2:1 RR level, thus my stop gets moved to break even and I take a little off the table. The rest waits for my 3:1 target.

    Funny enough, the 3:1 target is about where you marked the 'upside objective'.. well, technically it's ~96.20, but I'm aiming for slightly higher by a few pips..

    Anyhoo, these are just general trading threads about named pairs. No specific method to adhere to. I'm just posting what I see, others can post their take on it, and some can chime in with ICT style setups, etc... :)
     
  5. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
    Messages:
    2,427
    Well, that took forever, but I got my 3:1 target (plus a few extra pips) hit and the trade is closed. :D :thumbsup:

    (TP hit earlier, I was just checking up on it now to see what came of the trade given the AUD and China news coming out a 7 min after I posted this.. if it had not hit my TP or stop at BE, then I would have just closed it before the news release.)

    Not bad considering it came close to stopping me out the entire first 2-3 hours I was in the trade.
     
  6. sqa

    sqa Village Scribe

    Joined:
    Jan 29, 2014
    Messages:
    2,201
    So, yeah, that point I made about a Sell? >:D
     
  7. SLT

    SLT Official GDayFX.com Rep

    Joined:
    Dec 20, 2014
    Messages:
    577
    Long took off,
    Should have left all the position on,
    i would have been a millionaire by now :p
     

    Attached Files:

  8. SLT

    SLT Official GDayFX.com Rep

    Joined:
    Dec 20, 2014
    Messages:
    577
    Stops above
     

    Attached Files:

  9. SLT

    SLT Official GDayFX.com Rep

    Joined:
    Dec 20, 2014
    Messages:
    577
    interesting, 3rd favourite pair...

    This pair could loose a huge amount of ground

    Liquidity and blocks above on the Daily
     

    Attached Files:

  10. TheRumpledOne

    TheRumpledOne IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

    Joined:
    May 4, 2014
    Messages:
    175
    [​IMG]

    May want to consider the AUD pairs considering they have moved almost twice their ADR...
     
  11. SLT

    SLT Official GDayFX.com Rep

    Joined:
    Dec 20, 2014
    Messages:
    577
    The first A - B has mass liquidity underneath it
    The second a - b correctional looking rally looks suspect to me, about to give way
    which supports elliottwaves "tool" theory
     

    Attached Files:

Share This Page