Hey folks! Haven’t been around lately nor have there been any solid setups to post up lately.  The market still seems to be in disarray and there simply aren’t many strong trending pairs out there.  So, i’m taking this time to test out strategies and such on longer time frames, thus in essence, it’ll be like investing instead of trading really since a position could be open for months.

A great setup I am spotting at the moment is the AUD/JPY pair as it is beautifully bouncing off its 200-day SMA and the last time it did this, it bounced up for 2000+ pips within a two months span last year.   Thus, i’ll be looking to enter this trade on the Daily charts with a breakout of the downward range going on.

Here are the charts so you can see what i’m jabbering about:

Weekly Setup Chart:

AUD-JPY, April 1

Daily Trigger Chart:

AUD-JPY, April 1, Daily

With regards to my previous position on EUR/AUD, it basically broke out and then came crashing back resulting to my break even stop loss.  No harm done!

March Trading Results:

March 13 – AUD/CHF – +120 pips
March 13 – EUR/AUD – +120 pips
March 12 – EUR/USD – +92 pips
March 5 – EUR/GBP – +34 pips

Total Pips for February = +366




Related Posts: