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Audjpysell

AUDJPY Bollinger Band Spike, New Downtrend PossibleHi traders, I have my trade on break-even after we moved lower once the 1H candle closed (my entry is at the first spike, green candle) and now I am anticipating a break of the support area marked in orange. Once this breaks, I will lock in some profits and very likely add to a 2nd position, depending how everything forms. Be aware that trading Bollinger Band spikes require many rules and putting to break-even usually should not take longer than one candle after it went into your predicted direction. For more information simple head to my Telegram group which is free to join. t.me (This is not a trade recommendation!)
Short
by MyChildTradesBetterThanYou
AUDJPY Quick reversal to the downside after support breakHi traders, Bollinger Band Spikes give me the best trades but even if we have multiple spikes here, they are not valid for me. I look at the price action, the angle of the spike, previous support/resistance areas and so on. Taking every Bollinger Band spike blindly will get you in a lot of trouble. We also see a slight RSI Divergence. In this chart, I am waiting for a clean break to the downside, breaking the support area, then entering after the candle has closed. (This is not a trade recommendation!)
Short
by MyChildTradesBetterThanYou
AUDJPY right below major resistance, remain bearishSell below 86.67. Stop loss at 87.34. Take profit at 84.69. Reason for the trading strategy (technically): Price continues to rise towards our major resistance area. We remain bearish looking to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.
Short
by MEX_Exchange
1
AUDJPY approaching major resistance, remain bearishSell below 86.67. Stop loss at 87.34. Take profit at 84.69. Reason for the trading strategy (technically): Price continues to rise towards our major resistance area. We look to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.
Short
by MEX_Exchange
1
AUDJPY rising nicely from our buying area, remain bullishBuy above 84.78. Stop loss at 84.39. Take profit at 86.13. Reason for the trading strategy (technically): Price has continued to rise nicely from our buying entry. We remain bullish above 84.78 support (Fibonacci retracement, horizontal swing low support) for a further rise to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (55,3,1) is seeing strong support above 1.4% and has good upside potential following the recent bounce.
Long
by MEX_Exchange
AUDJPY remain bullish for a further riseBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): We remain bullish looking to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
Long
by MEX_Exchange
1
AUDJPY bouncing off nicely from our support, remain bullishBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): Price has dropped to our buying entry and bounced off perfectly. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
Long
by MEX_Exchange
AUDJPY remain bullish for a further riseBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): Price has shot up as expected and is fast approaching our profit target. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should be expecting a drop soon for us to get in at a cheaper price.
Long
by MEX_Exchange
AUDJPY bouncing nicely and making a bullish exit, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price has started to bounce nicely from our buying area and recent price action sees a bullish exit being triggered. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) for a push up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending. We can also see a bullish exit triggering further bullish momentum.
Long
by MEX_Exchange
AUDJPY still on our buying entry, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price continues to test our buying area. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
AUDJPY bouncing up perfectly, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price is starting to bounce off our buying level. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
1
AUDJPY playing a corrective bounceBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price is on major support (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
AUDJPY testing major support, remain bullishBuy above 84.57. Stop loss at 83.63. Take profit at 86.67. Reason for the trading strategy (technically): Price is still testing major support at 84.57 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing strong support above 6.1% where we expect a corresponding bounce from. Correlation analysis: We’re expecting JPY weakness with USDJPY expecting a bounce too.
Long
by MEX_Exchange
2
AUDJPY remain bullish on strong supportBuy above 84.57. Stop loss at 83.63. Take profit at 86.67. Reason for the trading strategy (technically): Price is now back to support area. We remain bullish looking to buy above major support at 84.57 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement horizontal pullback resistance). Stochastic (34,5,3) is seeing strong support above 6.1% where we expect a bounce from.
Long
by MEX_Exchange
1
AUDJPY remain bullish as our bounce is in progressBuy above 84.57. Stop loss at 83.63. Take profit at 86.67. Reason for the trading strategy (technically): Price has started to bounce nicely off our major support as expected. We remain bullish looking to buy above major support at 84.57 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement horizontal pullback resistance). Stochastic (34,5,3) is seeing strong support above 6.1% where we expect a bounce from.
Long
by MEX_Exchange
2
AUDJPY starting to bounce nicely, remain bullishBuy above 84.57. Stop loss at 83.63. Take profit at 86.67. Reason for the trading strategy (technically): Price has started to bounce nicely off our major support as expected. We remain bullish looking to buy above major support at 84.57 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement horizontal pullback resistance). Stochastic (34,5,3) is seeing strong support above 6.1% where we expect a bounce from.
Long
by MEX_Exchange
AUDJPY testing major support, look for a long term bounceBuy above 84.57. Stop loss at 83.63. Take profit at 86.67. Reason for the trading strategy (technically): Price is now approaching major support at 84.57 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement horizontal pullback resistance). Stochastic (34,5,3) is seeing strong support above 6.1% where we expect a bounce from.
Long
by MEX_Exchange
2
AUDJPY prepare to buy on breakout resistanceBuy above 87.30. Stop loss at 86.93. Take profit at 87.75. Reason for the trading strategy (technically): Price has dropped strongly from last week. We look to buy once price breaks above major resistance at 87.30 (Fibonacci retracement, horizontal overlap resistance, bullish divergence) for a push up to at least 87.75 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is seeing strong support above 2% and also sees bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
11
AUDJPY right on major support, remain bullishBuy above 87.28. Stop loss at 87.03. Take profit at 87.75. Reason for the trading strategy (technically): Price is now testing our major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support, bullish divergence) and we expect to see a strong bounce above this level to push price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance). Stochastic (34,3,1) is seeing strong support above 2.2% and we expect to see a corresponding bounce above this level. We can also see bullish divergence vs price signalling that a bounce is impending.
Long
by MEX_Exchange
4
AUDJPY approaching major support, prepare to buyBuy above 87.28. Stop loss at 87.03. Take profit at 87.75. Reason for the trading strategy (technically): Price is approaching major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support) and we expect to see a strong bounce above this level to push price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance). Stochastic (34,3,1) is seeing strong support above 2.2% and we expect to see a corresponding bounce above this level.
Long
by MEX_Exchange
3