Aud/jpy - Monthly View >> Short Opportunity ??

Discussion in 'Forex - Currencies Forums' started by LudivineTrader, Nov 7, 2017.

  1. LudivineTrader

    LudivineTrader Member

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    Hello,


    On the Monthly view, it seems that the AUD/JPY is below a medium-term resistance level >> short opportunity ??



    The AUD/JPY is currently below a major resistance area that might give us a nice opportunity for a short position.

    This resistance area also corresponds to

    · The upper line of an Andrews’ Pitchfork, that models a bearish regression channel.

    · A Fibonacci cluster; the 50% & 61.8% Fibonacci levels of the previous bearish impulse

    Here are the three Main Target Profits according to the Fibonacci expansion levels: 83.12 ; 78.68 ; 71.50.


    What do you think about that?
     

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  2. Linda Smith

    Linda Smith Senior Investor

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    Trading is not a gamble, but you need to know what you are doing. Most people want to become a millionaire by trading very soon. That's why they don't know what they are doing. They make their trading life unbearable. Otherwise, if you trade with knowledge, then trading will be much easier for you. Therefore, it is better to spend a lot of time trading, then something good can be expected in the future. Because success does not come in one day. I am currently trading with TP Global FX. They are very innovative they always help me to make money from this market.
     

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