This one is the best currency pair to trade today
Hey trader, hope everything is going well…
I have a question for you, have you had a chance to look at my previous articles? If you haven’t, please take some time to take a look at them…
They will save you money and a lot of time! They’ll help you understand how the market how the market works, how to choose the right instruments to trade, how to take advantage of them, etc.
Here are the links:
I’ve been looking at charts for more than 12 years, I’ve tried everything… What you see on those articles, is exactly what I think works best to get results.
What I like the most about it, is that you can even combine it with your own strategy…
Ok, lets go through some charts now!
AUDJPY Long Term Analysis
I want you to take a look at the weekly chart:
What do you think?
Its quite clear what the market is likely to do isn’t it?
There are a few things that you can get out from this chart:
- The AUDJPY is trading in a very clear bullish condition
- It’s got clear S&R levels
- Looks likes it is being rejected from an important support level
You can do marvelous things with these information, thats is exactly what tells you that the AUDJPY is ready to be traded.
When you have a clear condition, you know what the market is likely to do, if its got clear S&R level you know until when the market is likely to continue moving up, and finally, if the market is being rejected from an important support level, you know that it is likely to continue to moving up.
Now you can look at the short term charts for your signal, using any kind of system that you want.
AUDJPY Short Term Analysis
Now, let me show you the short term chart:
The safest way to take a trade is:
Breakout signal, wait for the AUDJPY to break through the previous high around 93.94.
Can we still get a retracement signal?
Yes we can, if we get enough pressure in this 30M candle (or on the 1H candle), we might get a good signal to go long just where the AUDJPY is currently trading at.
Remember you need to follow the 3 rules that validate every retracement signal.
What other currency pairs are you trading?
What do you like better, retracement or breakout signals?
Share your thoughts!