EURAUD Set to Fall Hard Soon

I've seen enough on this pair to conclude that it will sell off soon. It is severely overbought short term. As long as 1.4681 holds, then prices are poised to shoot lower very soon. My initial target is at 1.4400, which is over 200 pips away. But risking 70 pips to make 200 in a high probability trade is always desirable.

Plus, the backdrop of EURUSD weakness that seems to be taking hold again, I like getting short the EURAUD as the technical setup and risk/reward is quite favorable out of all the euro pairs.

USDJPY Trade Good for a Quick 25 Pips

Just a quick follow-up on the USDJPY trade I mentioned this morning.  Where it goes from here, I'm not sure, but the rally off the low looks corrective.  But I just liked the high probability trade I saw.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

USDJPY to Pull Back Here

I've seen enough to call a top in the USDJPY for a short term trade. We had a nice bullish 4th wave triangle followed by a 5th wave thrust which is so far confirmed by divergence with the RSI. Look for the USDJPY to return to at least the apex of the triangle soon in the 124.30 - 124.40 area at least. There's still a lot of room to the downside after that if you trail your stop.

My Personally Developed EA Portfolio is up 1055 Pips and 14.2% on a $1,000 Account

This is a live account where I started my custom EA portfolio April 1, 2015.  The MYfxbook tracking starts at the account inception which is misleading since another wild strategy was on the before.  You'll notice that since the start of the current portfolio, it is much less volatile with only an 11.3% drawdown and smooth upslope forming.  2.5 months, up over 1000 pips and 14%, not a bad start.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.