AUDJPY: Price Alert

Since I'm awake I thought I'd point out a price alert.

The AUDJPY currency pair is testing a support line.

A long tail break (closing on or above the support line) would still be a bullish sign.

Anywhere, here's a recent 1hr chart snip.


This is a good place to look for a trade. Good luck.

NOTE: See the previous post... it shows the support line valid since November 1st.

UPDATE: Upon waking this morning I see my take profit was hit and I managed to add 2% to my NAV while sleeping. Honestly, this is quite rare, but a good trendline (one that has been and does get honored again) gives you a well defined opportunity.


See how the violations are "tailed" and the line provides support? I got in at 83.21 at 12:38am and took profit at 83.70 at 5:35am. If I had of been awake I probably would have been nervous during the second testing after 3:00am.

Signals Blog Online

Just a short note to let you know that my new signals blog is online. Obviously this is a use at your own risk situation.

Robot Price Alerts

Anyway, when my robots notice various conditions they will post a message concerning the event in question.

The only notice type currently active may identify a situation that will either have a short term AUDJPY price rise offering a scalping opportunity or a longer term bottom situation if the pair is continuing an upward trend.

Possible AUDJPY Reversal Point

I obviously have no guarantees but, according to my own proprietary reversal indicator, this is a potential reversal point.

Again, do your own homework, but this is the "signal" I'll be posting to my alerts blog...

UPDATE: It's about 9:49pm and the AUDJPY 1hr chart is showing a potential twin tail.

UPDATE: It's 10:03pm and here's the 1hr chart right now...


And here's the chart from my last post showing the 3hr trend channel.


I don't know if we are going to stay in trend, but I wouldn't expect a straight drop through a support line that has been in effect for so long.

Skeptical About The AUDJPY?

I'm sorry you feel that way. Perhaps after looking at the following chart snip you'll think that you may have missed the boat.

See how the daily chart shows solid support since March? March! Hello, it's a little too late to be skeptical. The question you have to ask yourself is why has the AUDJPY been performing so well and how long will it continue to do so.


On another note, I'm going to start posting "signals" to a companion blog soon... perhaps as early as next week. I've already created the blog. These won't quite be signals but they will be alerts suggesting points of opportunity.

Forex Panic Attack

Well, if it looked like there was some panic last week, it should be very interesting to see what happens during trading this week.

I hope you've kept your powder dry! There should be some Forex fire sales happening before long. The tough part is figuring out when the currency markets are finally starting to turn around again.

Good luck out there...

AUDJPY Stop Losses Hit

Well, positions entered overnight and this morning have now been stopped out. We are approaching the SMA-50 (simple moving average over fifty measurements) at approximately 96.37 and we are likely to enter a buying zone soon.

Obviously, the risk is that it won't bounce, or worse, that it will bounce, give us false confidence, and then fall like a rock.


In any case, I'll be taking small chunks with the idea that accumulation is just fine as long as the positions are small enough.


Perhaps this will be interesting or informative. Notice how the upturn in the previous image has now been reversed?

And now we have a potential bottom/bounce, for this downward movement anyway, with some added trend lines. Of course, trends can be broken any time, but they do seem to work as predictors often too.



It's been a few hours since I started this post. Anyway, the AUDJPY is still trading in the trend lines. It's sweet to trade once you've established some trend lines -- as long as it stays in those lines.

At the very least, you'll notice resistance when the price hits these lines in the future (either top or bottom). There are other resistance points, of course, and it helps to know what they are too so you can trade wisely around them (after breaking or failing) instead of blindly taking your chances as they approach.

Another update which demonstrates the price bouncing off the trend lines previously drawn above. Now, whether this bounce is going to lead to a rally, or whether it will soon drop precipitously, isn't the important point. The fact that prices bounce around from what might at first appear to be arbitrary trend lines is the key point to take away from this...


Of course, I bought another small chunk at the touch point. It's either going to be an accumulate position if the price drops down or a great buy if the trend holds.

Minutes Later...

The price has since dropped below the trend line. I'm now very happy I picked up only a small carry style position.

Discovering Price Alerts

Okay, so I'm no genius. However, I am admittedly a rookie, so that is no fault of mine.

Anyway, I've just discovered the joy of setting price alerts. I can have my system play a wave file when one of the items I'm interested in arrives at or crosses a certain price point.

The value I currently see in this is that it can alert me to a situation that might represent an opportunity. When the alert is sounded I can then focus my attention on recent technical issues and see if a decision to buy or sell will be appropriate at the moment or in the near term future.

For example, I've set an alert on EURUSD at 1.3610 as I think it might indicate an impending short term buying opportunity.

Oh, I should also mentioned that I've found out how to close a certain position, though it is so obvious I'm embarrassed that I didn't recognize it right away. You simply click the "close" column on your list of open positions, duh.