Glad this worked out, not many pips, but it works…
I decided to throw in on this one (mini-account). Entered at 95.789. Looks like a 63.2 pip ride down to the 50 SMA as of my entry.
What was your PA signal to enter?
I’m waiting for an evening star formation rejecting 96 BRN resistance area at Day’s end as an entry signal.
tbh, I’m not exactly confident (yet) in my ability to set proper S/R lines. I was looking at resistance around 96.250 as that’s the previous high since April 23rd; no special formations per se. When I checked this morning I saw the pair had already started to drop and thought perhaps I’d mis-read so I jumped in. I’m about 5 pips up right now so hopefully the drop continues.
I think I might pull out of this one tonight. There are no indications of continuing lows. Seems to be strong support around the 95.65 area an unless it takes out some stops lower, I rather focus on a higher probability trade and be happy closing around 10-20 pips
I think the s/r line for this one would be at the BRN of the 96 area, which price is clearly rejecting and currently a nice BEEB is forming, indicating that there is bear pressure.
I would have my entry at the break of the BEEB, with buffer, if confirmed at day’s end and aim for 95.25, which is FTA and FIB 38.2 as my initial TP target, also where the MA sits, funny that.
Ya, it’s a ranging market, so no clear indication of direction, but this one could be a nice swing trade, but you’re right, no need to lose money finding out.
+5.3 pips i’m out! Discouraged that it took nearly 3 days to get that but at least it’s a profit. TBH it wasn’t an optimal trade opportunity. I think I’ll be looking at the GBPAUD as I am liking how it is sitting at the moment. The problem is similar to my AUDJPY. The 50MA is too flat! I know an entry rule is not broken to enter on a flat 50MA but it is not my preferred setup! 
Entering on AUDJPY based on the Bearish Engulfing Bar
There’s some news coming out on this in a few hours so only half the risk for me.
I am taking it too, even with the MA slightly turning up.
Where do you have your TPs? Mine are at 95.244 and 94.800.
I’ve decided to try AUDCAD overnight. It may be a quick one if GBPAUD looks better. I like to stay in one trade at a time.
Sorry for the extra indi for those who do strict Rubber Band Trade system. I got hooked on the TDI when I was reading the BIG E trading system. It’s in another thread if anybody wants to look it up.
The RR on that trade looks small, what do you reckon? Shouldn’t the SL be at the top of the PA signal, ie top of last candle in this case, to allow the market to breath and space to move.
Yeah I changed it in the end… good thing because there was a near 50 pip spike on the first 30 min of the opening of the new day candle… things back to normal and looking good! I was 2 pips away from being stopped out!!! Phew…
I went in on the GBP/AUD trade.
Good luck! 
[QUOTE=“jadd806;635055”]I went in on the GBP/AUD trade.[/QUOTE]
I went in too. Nearly stopped out on the NZ rate spike. Now all must go well with AU employment.
@ rjmah319 - What happened May 13th - 21st?
Any lessons learnt?
i’ve been looking at AJ for a while waiting for a signal and looks good to me now but there is so much heavy news coming up especially around the weekend I think I’m going to observe from the sidelines.
Are you still looking for PA signals or did you just set an order at the SR level?
PA on the smaller time frames. By the time the Daily makes up it’s mind it will be too late.