AUD/JPY Sell Position

audjpy-h1-10-26-2016-0845 So here we are. The first trade I have entered with my new blog. Such a proud moment.

So, in all honesty I entered the trade a bit early at 80.144 and perhaps a bit cocky as well. All criteria is going to possibly hit and with all indicators pointing in that direction, I entered. The AUD has been pretty bullish as of late, but since it is paired with JPY, big moves are easily possible. The resistance to move further upwards hasn’t been hit since mid July, so my stop is located at -30 where my limit is right below the latest swing/support at +55. Not exactly 2:1 but I felt it was a good spot since it was right above the .50 line. I am going to be watching the SSD for the next few hours pretty closely to see if I need to exit this trade early.

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