AUDJPY moving in 1.618

AUDJPY entering support area.
Price has been reacting to this support past 4 months

USDJPY lost its uptrend and price fell too, so let's keep an eye when week opens, no need to rush into this trade:

If there is strong selling on these 2, then instead I would buy CHFJPY.
I just want to short the Yen idc which pair.
If it keeps going strongly up I will wait a bit for panicking funds to calm down and long CHFJPY instead of AUDJPY.

They have a meeting that can have a light impact on the Yen Monday 1230 GMT, I don't think we should care but at the same time it's already strongly going up so small bullish news can exacerbate this...
According to Forex Factory
"Tends to have a muted impact because the services data, which accounts for around 60% of total industry activity, is covered in the Tertiary Industry Activity report released about a week earlier;"
So actually I think the news is already priced in.

I think I will wait unless I get a great entry, maybe see the price make a rounded bottom or go up.

Trade active

Dam spreads are high for this on my broker.
There are other 2 brokers with smaller spreads I would have rather used but ESMA regulations prevents me from spreading my money around.

Well anyway got in, starting with a disavantage...

Note

I think AUDJPY is V shape recovering.
CHFJPY is not going up or down. Might do the same as AUDJPY but delayed, that would be so troll.
USDJPY same price is not really going up or down. Maybe fall fast hit people stop losses then bots pick up the inconsistency and arbitrage it?

AUD bullish / Yen neutral and expected to retrace ==> AUDJPY best one.

Note

Trailing stop loss now.
Leaving it plenty of room to breathe for now, SL will get tighter as my winner gets bigger.

Note

I just want to stay in as long as the price is trending up, get greedy for more.
I have no reason to get out asap do it?
They always say "let your winners run". I'm such a good boy right, cut my eurusd loser quickly earlier than expected last week too.
Start the week with a big winner.

Going to have to go sleep eventually thought.
My sleep pattern depends what opportunities the market is giving me.
Jk I could have taken that trade while sleeping no problem, I am just all messed up offset.
Let's do THIS!

Note

I will use the GBPUSD trade I took last week as exemple.
I exited at a nice profit but did not run it.
I like to mix it up, it's whatever. Since AUDJPY is looking pretty pumpy I want to stay in. It's really exploding up.

Note

Uptrend picking up steam imo.
Divergence but not very relevant. Might just bait a few retail barely slow it down.

Note

BOOM!
Have a moderatly wide trailing stop of 15 pips, going to bed.
I hope I make loads of money while I sleep.

Trade closed: target reached

Is this what life really is about?
Does it really feel that good to make all this money?
Yes. yes it does.

Note

It extended hard. If I stayed in as long as we remained above 0.382 I would have a huge winner but I was too tired.
The trick could be to look at how far 0.382 is, how far it would be if the price went a little higher, and use a trailing stop based on that.

MrRenev

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MrRenev

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