PipHanger's AUD/JPY Journal

P

PipHanger

Well-Known Member
I will be taking on the AUD/JPY pair in this Journal / Journey...

I will only be trading the .50 and .00 levels when they setup inside of the Fib 62% - 79% Retracement Levels at Support or Resistance.

I will be using a max 50pip Stop, moving Stop to breakeven once 50pips in Profit, looking for 2 to 1 on my money at least.

Let the FUN begin...
 
11/13/13 - Trade Review

Entry: 92.50
Stop: 92.00
TP: 93.50
Profit: 100 pips
R/R: 2 to 1

Wednesday created a Low for the week with OTE around the 92.50 Key Support Level. I got my objective level by using the same swing as OTE and used the 400% Extension level which came in at basically the 93.50 Key Resistance Level plus Higher Timeframe OTE.

I started this account with $5,000.00 and I also took a trade on the NZD/JPY Short @ 82.50, I noticed it wasn't setting up the way I would like so I closed at 82.62 for -12 pips.

So far my Road Map is doing me some good.

Until the next time...
 

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Nice!

I noticed your stop is rather wide though, based on your analysis, was the full 50 pips required? Or could you have gotten away with less?
 
I believe I could have made my stop smaller, but until I get better at trading I think having a set rule of always at the next .00 or .50 level will do just fine.

Jack said:
Nice!

I noticed your stop is rather wide though, based on your analysis, was the full 50 pips required? Or could you have gotten away with less?
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11/13/13 - Missed Trade

I missed this trade, but I will keep track of this in my journal for learning purposes.

We had a 00/50 OTE @ 94.00 Key Resistance Level. We can see we just went above 11/6 high to sweep the stops and down she goes.

Waiting for next opportunity to come my way...
 

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11/19/13 - Trade

Looks like I was able to get my chance today on a Short opportunity at the 94.50 level using a 00/50 OTE from the 95.00 level. 79% retracement level came in close to this 94.50 level and has also swept some nice stops.
 

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InnerCircleTrader said:
Updates... Get to work PipHanger
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here are some charts to get him back up to speed, using your techniques
 

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Why do you trade AUD/JPY only? Are you a student of Chris Lori? Do you go long only? I just received his AUD/JPY course on a 35% discount.. I was interested in it because I want to see if the carry trade is worth it and I like the idea of being able to trade during the Asian session after my 9-5.
 
That is what I based it off of, but like everything else in trading, I didn't understand Chris Lori's video and how to trade AUD/JPY...The video seemed to be way over my head.

Hopefully you have better luck with it then I did. To me it seemed like a waste of money. I purchased it when it was full price.
 
I am 25 minutes in and I haven't gotten much out of it yet. I hope it is true that he brings it all together nicely in the 2nd video.

PipHanger said:
That is what I based it off of, but like everything else in trading, I didn't understand Chris Lori's video and how to trade AUD/JPY...The video seemed to be way over my head.

Hopefully you have better luck with it then I did. To me it seemed like a waste of money. I purchased it when it was full price.
Click to expand...
 
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