This is a pair that I do not trade often, but when I see one of my favorite set-ups I am compelled to take it, if it meets all my criteria. So what have we got here. Anyone who has followed my trades, which so far has been zero, why I am not sure, everyone has been a winner including the AUDJPY
short (if you move your stop to even and take 1/2 your position of the table and 2 rr as I do) Nevertheless, here we go, as I pointed out on my AUDUSD
long a rubber band trade has a very high success rate in the seventies %. As you can see, we finished the week with a inverted hammer
, and the kicker, the 50 ma is trending lower with this pair well above the mean. I am short at 100.72 stop at 101.44 the weekly, with a target at 99.00. Once again this may take a week to playou,t the weekly ATR is 130. Goodluck.