No change in our rankings, just a day of consolidation
Newbie question…Is the strategy to be long on AUD Or NZD against GBP or JPY depending on the catalyst?
Welcome…
The strategy is to trade the stronger against the weaker.
KC
Dennis,
Any thoughts on “missing the boat” on strong weak trading?
I have a mental block that if I didn’t get in at the start it’s too late. To re-enter do you wait for a certain ma pull back?
Any thoughts on entering after the trend is underway would be great!
Thanks or all that you continue to give!!
KC
I like pullbacks to the 200 ma on the 1hr chart
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AUDJPY sneaks into the top spot, AUD has had a great run but if the stock market keeps going up so will AUD
Looking at AUDJPY on a longer-term chart we can see this is a counter-trend move, but that is a pretty steep up move and could continue
AUD remains strong and buying against the Yen, US dollar or Pound remains the play
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Just two full days as our Top Trade and AUDJPY closes in on +200 pips, If you have multiple lots now would be a good time to lock in profits on part of your position
Also note we crossed the 200 day moving average, a full candle close above this moving average would be a very bullish signal for new traders to come into this trade, this could be a good one
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Thanks Dennis. I’ve netted 100pips off the AUDJPY thus far.
How do you go about managing multiple positions? I understand you usually move stops to BE after approx 100 pips? Do you reduce this position and look to add new positions as the trend develops or ride the 1st for the full lots and still add further?
Ben
many times your think is best, but i do not understand right possition
thank you
Top Trade AUDJPY picks up speed as it moves up and away from the 200 daily moving average, below is the 4 hour chart, look at those last three candles, I hope everyone locked in some profits and are enjoying this ride.
Thank you Dennis
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I think you have it figured out, If I were to buy in from here it would be on a pullback to the 200 ma on the 1hr chart, but that is a long way from were we are at, a test of the 200 ma on the daily might be a better support area
Hello Dennis;
Thx a mil, i entered at 72.091 with a large position.
I understand ur point on the daily re-entry, but i have a question and need an insight, close all now and pocket the 50 pips i was willing to lose in case i locked profits, and wait better re-entry. Or close half and leave the rest to run slightly above BE as security sl?
AUDJPY trade is on fire and while that 7% spread might seem large, back in March the AUDJPY spread was 14% with Yen on the strong side, Looking at long term chart (6 years) Aussi has been week for a long time and we may just be getting a correction. The 200 week moving average will be a big one to clear and would signal a multi-year bull move
If you bought at 72 you are up 300 pips, for my trading I would lock in profits on half and let the rest run, or you can just put in a break even stop and go for the big one, who knows maybe we get 1000 pips on this one,
You say you have a large position, well if you get that 1000 pips don’t forget me at Christmas time 
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I am not Dennis, but profit is profit, if you used a large position and already 50 pips in profit, take it, close it, increase your account equity. You will never go broke, taking profits. New entries and opportunities will ever present themselves all the time.
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Wont forget, dont worry abt that , i would travel half accross the world for that
once we see if covid 19 will stand down or will it brings us a Christmas gift with covid 20 wearing santa.
it would be trade of the year if i left the position and it went to weekly 200 ma after breaking 76.51.
But i think i will lock half as u said.
Thx dennis really , i am here now after 2 or 3 yrs of following this forum, too much was given from u (and a few other members too) that made me reach this level not a guru or holy grail but definitely not losing on the losing side anymore, compare the first private msg i sent u years ago with my comments above u’ll get my point , thx again.
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Thx Simple , noted with thx
My 100 pips seems a little pathetic now haha. I’m going to use trail stops as my take profit moving forward.
Thanks for all the info Dennis.
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