Tuesday, October 13, 2009

AUDJPY: Channel on the 1hr

There's a channel on the AUDJPY 1hr chart.

For as long as the channel decides to last we have an opportunity at either the top or bottom levels.

Notice it going back and forth?

This is perfect for my custom trading robot...

Unfortunately, predictability never lasts.

Well, that was nice. It's about an hour and half later... see the bounce? Click the image to get a larger version...

Are we going to make it back to the top?

UPDATE: It's approaching 9:15pm. Here's a 15min chart showing the latest action and a channel support challenge:

I'm guessing we break downward. I'm not betting on it though.

UPDATE: Around 9:40pm... and we are out!

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