The Break Out Man

Put on earlier intraday trade at

Buy Stop Entry (RH3) 79.53

Stop Loss (RL3) 79.01

for target 80.24
 
AUDJPY - BO Update

Hi,

Interesting one for the FOREX traders. The Australian Dollar is looking strong across all pairs, No more so than

The Japanes Yen, where a Break Out move to the upside for the AUD. Enjoy the Clip below. The trade is beneath it.

Live Feed | The Market Sniper


Set up
Buy Stop Entry (RH4) 79.91
Stop Loss (RL4) 78.98

Trade Profit Targets
1st Stop Profit Level 81.32
Percentage Position 60.00%
2nd Stop Profit level 84.59 Risk : Reward 1 2.92

Profitability if met
Total Attained Gain

£7,301.08
Total Funds at Risk of Loss £2,500.00
 
Interesting. Following from your reply to me on AUD [Edit - sorry, must have been in the other thread] , I looked at AUD/JPY this morning (not one I had really looked at properly before), but I had missed the initial move, which you presumably profited from. Choppy little beggar isn't it?

I then wondered if it could make it past 80 and was going to ask you if you thought it would, but seeing your later posts, clearly you did/do. I see it's down a bit at the moment, but presumably may bounce back.

I did OK on AUD/USD overnight and this morning. I see it's paused for breath for the moment, although I'm still long (having taken some profit already).
 
Last edited:
The Baptist said:
I am Bearish JPY generally near term against most pairs, especially vs CHF and to a lessor degree the EUro too, but the Ozzie pair (AUDJPY) is looking ready to move soonest. So I expect to be Long AUD at some point soon against the JPY.
Click to expand...

Why do you like it versus hte CHF?

I've been trading JPY weakness versus the NZD, and lesser extent AUD as well.
 
A break out Indeed ... Only downwards

I would love to tell you I had a reversal sell at my stop level, as I should for the occasional inverse break out.

Unfortunately in this instance I did not, and a loss accrued.

YouTube - AUDJPY 25 9 09 830
 
Nice thread.

Do you have any basic rules on placing your stop-loss, or do you do it entirely after assessing PA?
 
Birdlepop said:
Nice thread.

Do you have any basic rules on placing your stop-loss, or do you do it entirely after assessing PA?
Click to expand...

I place the stops technically prior to entry.

This trade has turned out a brilliant downside BO, on what seems like JPY strength.

This was a reversal missed, never mind a new opportunity awaits.
 
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