Wednesday, May 16, 2012

Last Oracle Technique: AUDJPY 16/5/2012


I'm not feeling well today and went to Clinic this morning. The doctor is very compassionate enough to give an 
"MC" , so that I don't need t go to work .But let put that aside and let get to business.


For today trade I decided to sell AUDJPY because I believe there is still room for further declines and this justified by my system that I have been using until now.


Based on the chat, this pair is likely to declines further as:

  1. All my 200 moving averages are pointing south
  2. The price is still below the ichimoku cloud  which signifies bearish trend
  3. The pair is creating LH and LLs
  4. The CCI has shown an overbought position which i believe the bull may loose its steam later on;
So, based on this rational, I embarked on selling the pair with 2 position at price 80.08. Let see if I can pocket some green pips with this trade.

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