AUDJPY shorts key levels
Updated
A little bit late in posting that chart, but if the calculations are right, then the price could go furter up to the levels on the chart before falling
-Pending short orders are already set, using same strategy by diviing the normal short size in many orders and spreading them in the area between @82.4 to @85.1, larger orders are set higher.
-I will not just jump in the trade now, I'd rather waiting for the @80.0 to breakdown and retesting it from the downside, then go short .
-will add short after breaking the lower red dashed line.
Good luck
-Pending short orders are already set, using same strategy by diviing the normal short size in many orders and spreading them in the area between @82.4 to @85.1, larger orders are set higher.
-I will not just jump in the trade now, I'd rather waiting for the @80.0 to breakdown and retesting it from the downside, then go short .
-will add short after breaking the lower red dashed line.
Good luck
Trade active
The sell pending orders between @82.40 and 85.10 are starting to openNote
I think this pair is ready, most of the short pending orders are opened by now and have some more up to @85.10 with SL above @86.6.Strategy was dividing the lot size and spreading it as pending orders in the sell zone, larger sell order were set higher, this allows:
-minimizing the swap costs, as the smaller orders were opened first
-minimizing the losses if SL was hit, as the larger orders are nearer to the SL level
-maximize profits, as the larger orders were set highr allows shorting from higher levels where the bullish movement may be exhausted
-get the overall order out of negative faster, also before reaching the midway between the first and last opened order
-allows you to watch the development of the price action on larger period, so if there an adjustment to be made would not be in rush
Cons:
The market could have reversed before filling all the larger short orders.
**But at least it did not reverse without a profit because not filling the larger orders means the SL was not hit, so you are still adding to your account.
Lets hope the SL holds and for now let the AUDJPY make whatever it wants.
Good luck
Note
All shrot pending orders were opened, but seeing all the JPY pairs heading north makes me a little bit worry, will only hedge the shorts after 4H consolidation above 85
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