Originally shared with internal clients on Sep 23.
1. We got an explosive run up on AUDJPY and NZDJPY pairs. The push beyond 8/29 peak is extremely significant as it validates buyers are now in control. We could see the start of the bullish trend to form from now (higher highs, higher lows), and this trend is expected to continue for several weeks based on the pattern we have identified.
2. Likewise, Audchf and Nzdchf pairs at last have indicated to make a bullish reversal on the onset of a major move up on 9/19. They still may stay in a range for some time before making big move to upside. Yet, they have signaled to go up anyway.
3. AUDUSD and NZDUSD both have continued to rally throughout last week. We would love to see the price breaching above 8/29 peak from next week. When we don't get the surge, then it is possible the price to move sideways for few more weeks and make another attempt to break above on the next round as we have seen strength in the background.
4. Booking 2.1℅ profit on CADJPY is indeed a confidence booster. The price move is not done yet and I plan to ride it up towards 89.0.
So, there is no need for me to make changes or reshuffle the open positions. It is just matter of time we will finish well on our trades. The account has recovered quite well from the low point. Will keep working to get us up once again.
About the Author
Ramesh is an active trader producing over 200% gain in 2017 and author of 3 trade strategy development books sold on Amazon. He is the creator the 10/20/30 Rule™ that could transform a mediocre trading system to become a top performer by following a systematic and thoughtful approach on strategy development.
Books By Ramesh Selvarajoo