Next Week and a Half = 500-700 Pips to the Down
Updated
Based on previous moves down in this same trend channel... We could see anywhere from 500 to over 750 pips! The move to the bottom of the trend channel could take much longer and the better profit play would be to make the most amount of pips in the shortest amount of time which would fall into the 5-7 trading days range.
If you have the time to monitor the 4 hour charts you could maximize your profit by shorting the pull backs with a half position and buying back once it returns to where the pull back began.
This same play is happening on most xxxJPY pairs, but I like the AUDJPY pair only because the pip cost is the same, but the margin requirements are a few dollars less.
If you have the time to monitor the 4 hour charts you could maximize your profit by shorting the pull backs with a half position and buying back once it returns to where the pull back began.
This same play is happening on most xxxJPY pairs, but I like the AUDJPY pair only because the pip cost is the same, but the margin requirements are a few dollars less.
Trade active
Entered @ 105.662SL @ Floating adjusted manually on pull backs
TP @ Manually - Will wait til closer to the end of the week and see how far we moved and how quickly.
Trade closed manually
I forgot about a Trendline not in the above chart. It goes from the bottom of the brexit candle and the next higher up. We just hit and I closed all positions. It could bounce up from here if it doesn't break through.There is so much downside it won't hurt to bank my pips now and wait and see.
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