Monday, April 20, 2009

AUDJPY: The Bounce At 68.06

I was watching the AUDJPY as it slid downward today.

As you might expect it was following a nice trend on the way down. It's currently following a nice trend line on the way up too.

Here's a 1MIN chart showing the upward movement from the 68.06 bounce.

I don't really place a lot of stock (heh, bad pun) in the 1MIN but it's interesting nonetheless.

... continuing ...

This is getting more interesting:

A trend line break means it's time to keep our eyes open.

... continuing ...

The AUDJPY prevaricates:

I don't show my complete setup on my snips, but I've got some stochastic and RSI evidence that we could be due for some selling. As ever, it doesn't mean it will happen, but it certainly could.

... continuing ...

I always like it when I'm able to call and catch a decision point. It's not that I expect to be right... just that it's time to make some decisions:

If you are making money because of me, don't forget to donate, if not -- why the heck aren't you? I'm not giving you signals, I'm giving you a heads up for high probability moments.

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