Possibly Looking to Pick up An AUDJPY Contract if My Price is Met

Looking at AUDJPY ~ I would love to have bought in the high 80s the last time it was in that vicinity - oh wait, I did, but I did not hold. My living circumstances at the time contributed to a poor trading environment, but that is another post altogether.

Looking at this hourly chart for AUDJPY, I am looking at the area below current prices as a possible buying point. If I were more aggressive, I would buy now and say the hell with it, but that latest hourly candle is looking like a hammer, which means down further possibly. The 92.60-90 area could be a great buying opportunity as a potential demand zone, if it holds and moves back up into the next supply area at 0.9350ish. I have a pending order at this point in that area and I am watching closely the data coming up in the next few hours.

AUD/JPY on 4 Hour Time Frame

The 5 minute entry now on for over 24 hours, and it is in the money. The reversal is in the cards, for now...

Now that the deal is on, it is a question of management, which means exiting at the best possible moment with the information I have at the time. The first trend line of resistance has been breached, but not with excessive strength and price is hovering just above it at the moment. The second line of resistance is where I am shooting for, and is realistic in the next 24-48 hours of trading (meaning I may need to hold over the weekend). The ultimate goal, would be shooting for the monthly high of 83, or even better 83.50 of August. At this point, the next few hours may decide if I close this, take my 300ishUSD from $50,000 in positioning, or if I shoot for higher. So far it has been an incredible month, with this month being the first month that I have earned more in my part time job (trading foreign exchange) than I have in my day job; I would love to wrap it up with another decent sized win...

AUD/JPY and EUR/JPY Dual Trade on Again

So, I was looking at co-relations between risk currencies, and when the Japanese Yen is involved, often one Yen Cross parallels another, so I saw a dip and bought some EUR/JPY to go with my AUD/JPY and...

Look at those candles in the last 10 minutes, some high liquidity appears to be available, meaning big money. I'll see how it works out.

AUD/JPY Update, 5-min Entry becomes and Hourly Chart Trade...A Day Later.

My AUD/JPY did in fact go up, as I had anticipated, but not by much...

The good news is that a new trend may be forming (the potential reversal) I wrote about earlier. If this keeps up, the trend line I have drawn at the bottom right hand of the chart could support further advances. The bad news is that I have two trend lines that could be areas that short money could attract (selling AUD/JPY) ~ The nearest to current price could cap advances near 81, which would still be a good trade, but the next would cap somewhere above 82, which would be an excellent trade.

AUD/JPY Update on my 5-Minute Chart Long Entry

Looking for a move above 80.60-70 as confirmation, and it would be nice for it to happen in the next hour or less. If this does happen, and if the gains hold, I will hold. That's a lot of ifs.

AUD/JPY Trying Again on a Smaller Time Frame

5-minute chart, entry 80.53 buy price, target anywhere above 81

I usually take a look at the daily, then the 4-hour chart, then the 60-min, then the 15-min, but in the last 8 months, most of my entries come from a 5-minute chart because I like to get in at the beginning of a reversal if it happens.

Why the reversal might happen: so much selling over the last eight days, that there are probably a large number of stops above the current price action in the mid 80s.

AUD/JPY Moving down to the 100 Day Moving Average

Feeling a bit risky on this one, but perhaps the 100-Day Moving Average might prove a decent buy point on AUD/JPY. Lately, this pair has been very good to me, but I've been stung once or twice with a couple of losses. On the other hand, my wins have netted me over $1000 in the last couple of months on this pair, and it will most likely bounce in the next day or so, if the current ranges hold.

I'm now waiting for 80.60-80.68, depending; I may not take it, but it's a good enough entry, with a tight stop considering the move down today during the American Session. Bought in, going to wait at least an hour or two to see where price goes, 1st Target would be slightly above 81 and if that is cleared with sufficient margin to keep my stop near there without it getting taken, I would then shoot for 82 or the monthly high of 83.

Aside, I want to reflect on where I am and where I want to be as both a trader and a human being. I am not yet in the place I want to be, but I am alive, I am relatively healthy, relatively young. Nearing the next big figure on my account of 8K, it's been a hell of a year in more ways than one, but despite all my failures and with the aid of my successes, I continue.

AUD/JPY Bullish Spontaneous Move

Bought more, just before it happened, we'll see if it goes up further.

I'm in at 81.1516 for 50K and looking for a large move up. The engulfing candle bar appears to indicate high liquidity on this move; which means a large player might be involved, which means someone with a large amount of capital thinks AUD will rise vs the JPY; which means, that at the moment I'm with the big money on this one. Lately I've taken a few losses, and my confidence is down, but I'm bloodless on this one, and I will chase price according to my method. If I can get 15-20 pips up, I'll move to break-even before I go to sleep. Once again hoping for 82+ on this pair.

Selling JPY, dual setup AUD/JPY and EUR/JPY Update

The EUR is outperforming the AUD vs the JPY, but I am still hoping for a range break on both, which would be be indicated by a move above the downward trendline on both charts.

AUD/JPY Looks Like a Triangle in the Play

Earned money on this last night, while I was asleep, buying in again, this time lighter contract, because I'm relaxing, and I've hit my monthly goal.

Went long at 82.10, hoping to catch 60 - 65 Pips, risking about 20 pips. Japan's Aug. Imports fall 5.4% from a year earlier, not sure if this is bad for risk or bad for the YEN, or one might cancel the other out. I'll see in the next few minutes on the reaction.

AUD/USD and AUD/JPY Trade Update - Bulls Win with Announcement of "QE Infinity"

With the announcement of the United States Federal Reserve announcing QE3 (link to bloomberg.com) with a pledge to continue asset purchases until the US economy improves, the USD has lost quite a bit of value in the course of a single trading day. My estimate, looking at my quote sheet is about 1 - 1.5 cents against everything so far.

I have a couple of trades on AUD/USD and AUD/JPY, long on both, prior to the FOMC meeting and press conferences, doing fairly well on average. After the announcement, it was quite a fight but both pairs have put in some impressive highs for the week, and the corrections (thus far) seem to be muted.

I am currently waiting on both of these positions to see if they have the potential to reach my first targets of 1.06 on AUD/USD and 82.00 on AUD/JPY, though I may have to wait to see what the Asian Session brings.

AUD Looking Poised for Another Climb

AUD/USD and AUD/JPY both look poised for additional gains, based on my study of these charts. I'm looking at the 15 minute on both.

I'm already long on both, as both carry trades and with profit targets of 1.06/07 on AUD/USD and 82.00/83.00 on AUD/JPY. Thursday and Friday should be interesting to see how they play out.

AUD bad data (Trade Balance) but a muted negative response

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.

-556M Actual > -300M Consensus > 9M Previous

This is where I get a bit scared, so trade balance is down, down by more than anticipated, and the result is that the AUD/USD and AUD/JPY both dipped but are now showing stability. When this happens, I start to think either technical analysis is winning over fundamental analysis or that something is rotten in Denmark. Mind you, I'm hoping both pairs go up but I can't figure out why.

AUD/JPY Bullish for now...

It is a bit late to share this idea, because the time to buy would have been 100-140 pips ago, when I did, but here it is. Good data out of Australia last yesterday and good ADP data, and good ISM data = AUD/JPY up.

In theory, based on ADP data earlier today, the NFP should be okay, and it could go higher. I have a target of 82 to 83, but who knows. Of course the trade balance data out in 20 minutes is pointing south so I may just collect my 100+ pips and call it a week on this pair.