AUD/JPY Signal Update

Just checking in again on the charts and was pleased to see that the last signal posted has gained over 60 pips on a break out of the signal bar high!

As indicated in my last post I did not take a position on this last signal. Nevertheless, it is great to see that the signal has played out so nicely so far.

I am now heading into the 'busy' season at work. I will only have limited time to be checking the charts for signals and my time for posting here on my blog will be limited. However, I will be doing my best to keep up with my analysis and blog postings as best I can so keep checking in as often as you can. I will be posting more chart analysis as time permits.

This is not a recommedaton to trade! duh! If you are trading, know your risk or use a demo account!!!


Happy New Year you all!!!

I am looking forward to sharing my blog with you all in 2010!

AUD/JPY Pin Bar at support

Last week came and went quickly for me. I was busy at work. Not much in the line of signals that I noticed during the free hours I had to watch the market until Friday. Here is a nice pin bar that formed at a support level. Similar bars can be found across a few different pairs. While the bar is not an actual piercing candle formation it is a strong looking signal being off a support area and closing well up into the previous candle.

I would be careful with this signal at next weeks open. Likely we will open with a gap and things will be a little unsettled on Sunday. Also this late into December signals may not be as reliable as market participation is at low levels due to the holiday season. All that said this is once again a very nice looking signal that I would be watching for as a rule.

This is not a recommendation to trade. If you are trading please know your risk or use a demo account.

Happy Holidays!!!

AUD/JPY Trade Status

The A/J demo trade from my last post was stopped out shortly after I moved to Break-Even.

I'll be having a look at the charts a bit later today as I have to go to work shortly. If I find anything I'll be sharing trade examples here so 'stay tuned'!

This is not a recommendation to trade. If you are trading know your risk or use a demo account.

Cheers!

AUD/JPY doji confirmation bar break-out - now what?

So far the confirmation bar break-out has offered up to 70pips from where I placed my demo entry.

So what are the options while this trade is still in play? Some may have taken profit on this trade already because they do not hold trades over the weekend. Others may have simply moved their stop loss to break-even or break-even plus a few pips. Some will do nothing, saying that they are comfortable with the risk and will simply wait to see if the trade will run or hit their SL where it is. There are many ways to handle a trade once it is in play and in profit.

I have decided to take half the profit and move to break-even plus a few pips. I am now in a 'free-trade' and what happens now will be either OK (hit break-even) or great (trade will run).

Have a great weekend!

This is not a trade recommendation. If you are trading know your risk or use a demo account

AUD/JPY Doji confirmation

So the next candle has closed above the doji high. This could be considered confirmation of a reversal. I have an example demo account trade shown in this chart with entry a bit above the high of the confirmation candle and a stop loss under the doji (200pips). The risk to the account is kept to under 1%. This is just an example of how a trade might be placed and there are other options to be sure. Another entry might be a market order (immediate entry) with a SL just below the confirmation candle. Others may use even still a larger SL if they can still keep the risk to a level they are comfortable with.

This is NOT a trade recommendation. If you are trading please know your risk or use a demo account.

AUD/JPY Signal update

Well if your in it for quick profits the doji at resistance signal today has already offered some nice pips! Todays candle has already been up over 100 pips since open!

Again there are many ways to have played this signal. You might have put a SL at the bottom of the doji and taken profit at a 1:1 risk to reward ratio. You could still be on the sidelines to see if todays candle gives confirmation to the reversal by closing above the doji high. You might have simply entered at market with a tight SL and may have now moved it to break-even or maybe just covered half your risk looking for price action to continue moving long allowing your trade to run.

However you may have played today's signal what is important to take notice of here is how market signals are seen by the many participants that make up the market itself. What I mean by this is if you are aware of what the market in general is looking for you should be able to get in the market in the right direction. Today's signal was simple but powerful - a doji candle at resistance. You now have good reason to study up a bit on candlestick reversal patterns as well as simple support and resistance concepts.

If you did not make pips off this signal don't dispare! For instance I did not trade this signal today because it is simply not the right time for me to expose my account to more risk. I have open positions that I am waiting to cover before I get into any more trades - that's just me. There will be more signals! As I said in my last post a strong way to play the doji at resistance is to wait for conformation - which is what we MAY get if the close of today's candle is above the doji high. Does that mean price will continue to the longside? Nope!!! But again it might just be considered a strong signal by many market participants and you've seen the power of market psychology at work today!

This is not a trade recommendation. If you are trading please know your risk or use a demo account to gain understanding.

AUD/JPY at a possible reversal level

I've been looking through the charts and found this retracement on AUD/JPY.
As you can clearly see the pair has been in an over all uptrend since early this year. Price action since the last pin bar has been up for days straight and we are now at a 50% retracement level on that recent price action. This current level is also a support level. Any attempt to go long here should have a generous SL placed below the recent (Aug-Sept) price action. In my mind this is in the neighbourhood of 400 pips at least (the red line for example).

This is not a trade recommendation. If you are trading please know your risk or use a demo account.

EUR/JPY AO signal break-out

The AO signal broke out and moved about a hundred pips or so.

I've drawn in some resistance areas. The first one might be a target if you had gone long on either the pin-bar candlestick or the AO signal. In order for price to continue rising we will have to break through the upcoming resistance areas and have them retest as support. Candle sticks may provide some clues if we move into those areas.

This is not a trade recommendation. If you are trading please use a demo account or know your risk.

EUR/JPY Daily Chart Update

If you played the break of the pin bar at support you could have locked in profits by now.

I've added the AO indicator again and it looks like the indicator will give a signal at the close today. Of course a signal is a signal and nothing more - it is not a guarantee of a successful trade.

This is not a trade recommendation. If you are trading use a demo account or know your risk.

FapTurbo - week one test results

Check out my Fapturbo results

Testing is still in very early stage (only one week running). Give the test more time to run. If you still like what you see use the link at the bottom of the page.

This is not a recommendation to purchase FapTurbo. EA testing should always be done on demo accounts.