Australian Yen Selling off the Pivot Line

16 בפבר׳ 2016

I see AJ in a channel with a beautiful morningstar providing us with the upmove off the bottom of the channel We were preparing to take this long as it broke a pivot line at 81.84. The bullish structure did not set up so we were not in the trade long. Instead, we now a daily close in the formation of a dark cloud cover. I am looking for additional selling on this, possibly some sideways action and then a retest of the morning star below.

17 בפבר׳ 2016

עסקה פעילה

I took one bounce off the pivot line and am looking for structure here for the second short.

18 בפבר׳ 2016

עסקה פעילה

First one off for break even. 40 pips so far.. Pull stop to break even. Thanks!!

19 בפבר׳ 2016

עסקה פעילה

Test the morning star. If you on from the pivot keep going.

19 בפבר׳ 2016

עסקה סגורה: היעד הושג

Support here from the last move north.. Take profit or remove partial. Yens could fall further but lots of support here at 80.48. This was a great trade.

24 בפבר׳ 2016

העסקה בוטלה באופן ידני

Look for sideways movement as yens may take a little breather this afternoon. Check asian session to see if bears continue the trend on yen selling for the next 24 hours.

31 במרץ 2016

עסקה פעילה

Just a reminder of the current structure on AJ. Hence, I have had nothing except bull status for the last several weeks. I am getting a lot of private messages and yes, I do see the double top and will do a new chart on this prior to nonfarm tomorrow (April 1). If you are long and cannot ride this, just flatten or pull profit! Not a tough decision. I was looking for 87 and higher from more recent charts. Obviously we have not gotten there, but I think this chart illustrates why one should not panic and the potential for longs and shorts within structure. AJ is an easy pair to find support/resistance within structure and is the easiest of the yens to trade.