AUDJPY
Disappointed that no-one chose to comment on this but it could be that there were so many posts over the week-end.
Big Boss:Main Analysis - AUDJPY is mainly bearish. BB did tell us that price still wanting to go down with August BEEB, reminding us again on October, while telling us that there are still buyers around 80 BRN trying to push the price back up.
This pair is directionless AT THIS TIME. There are 4 months of testing BRN 79-80 telling us how important this PRICE area/zone/level is
Boss:
Main Analysis - Currently the price is in upward swing of a down trend.
Confluence Analysis - It hit the Strat Shadow, which is where big boys come in and push the price down, hence the upper wick of BUEB. The BUEB high wick retracement is resisted by SR 82, trendline and Strat Shadow.
Good.
Worker: Main Analysis - A strong BUOB that cross Strat Shadow, the followed by a shooting star(latest PA) on resistance area.
Confluence Analysis - BUOB also crossed 80BRN. The shooting star confluence with SR Area and trend line. Yesterday candle is an inside bar confluence of Shooting Star, on the SR.
Good.
You were doing very good UNTIL I saw this:
3 Tranches
SL - 82.519 last swing high
Entry - A sell stop placed at 80.980 couple pips below Shooting Star/IB.
TP1 - 80.260 ATR5, SL move to BE
TP2 - 79.119 latest swing low close
TP3 - Trailing swing high
This tells me you have gone backwards on THE PATH!
You correctly identified the Shooting Star but failed to consider it with the candles and PRICE ACTION following it. You have forgotten that our PASR candles are ONLY the first sign of an impending entry. We do not initiate our trades on them instead, we WAIT for confirmation.
As yet, that Shooting Star is valid - it has neither failed or proven itself meaning we have NO CONFIRMATION.
While your intended trades may work out in the long run, trading like this will not make you a "consistently profitable trader"
You were doing so well up to this point - you can do much better.
One last thing - watch for news from Australia and Japan as this pair is sensitive to both (mainly on shorter time frames)
DislikedAUDJPY Papertrade BB {image} Main Analysis - AUDJPY is mainly bearish. BB did tell us that price still wanting to go down with August BEEB, reminding us again on October, while telling us that there are still buyers around 80 BRN trying to push the price back up. Confluences Analysis - it is doing it side way things with all the up and downs since March. BEEB on August is still in control. B {image} Main Analysis - Currently the price is in upward swing of a down trend. Confluence Analysis - It hit the Strat Shadow, which is where big boys come...Ignored
Big Boss:Main Analysis - AUDJPY is mainly bearish. BB did tell us that price still wanting to go down with August BEEB, reminding us again on October, while telling us that there are still buyers around 80 BRN trying to push the price back up.
This pair is directionless AT THIS TIME. There are 4 months of testing BRN 79-80 telling us how important this PRICE area/zone/level is
Boss:
Main Analysis - Currently the price is in upward swing of a down trend.
Confluence Analysis - It hit the Strat Shadow, which is where big boys come in and push the price down, hence the upper wick of BUEB. The BUEB high wick retracement is resisted by SR 82, trendline and Strat Shadow.
Good.
Worker: Main Analysis - A strong BUOB that cross Strat Shadow, the followed by a shooting star(latest PA) on resistance area.
Confluence Analysis - BUOB also crossed 80BRN. The shooting star confluence with SR Area and trend line. Yesterday candle is an inside bar confluence of Shooting Star, on the SR.
Good.
You were doing very good UNTIL I saw this:
3 Tranches
SL - 82.519 last swing high
Entry - A sell stop placed at 80.980 couple pips below Shooting Star/IB.
TP1 - 80.260 ATR5, SL move to BE
TP2 - 79.119 latest swing low close
TP3 - Trailing swing high
This tells me you have gone backwards on THE PATH!
You correctly identified the Shooting Star but failed to consider it with the candles and PRICE ACTION following it. You have forgotten that our PASR candles are ONLY the first sign of an impending entry. We do not initiate our trades on them instead, we WAIT for confirmation.
As yet, that Shooting Star is valid - it has neither failed or proven itself meaning we have NO CONFIRMATION.
While your intended trades may work out in the long run, trading like this will not make you a "consistently profitable trader"
You were doing so well up to this point - you can do much better.
One last thing - watch for news from Australia and Japan as this pair is sensitive to both (mainly on shorter time frames)
15 YEARS OF PASR ON FOREX FACTORY!
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