An early start to this week, with a short trade entry this morning on AUDJPY. Nice indecision was followed by price starting to dip down for around a 2 RR trade. Keep in mind this may take a bit of time to complete. I also discuss some trades taken last week that some of you may still be in.
4 pairs to track in today’s analysis, with some correlation between GBPJPY & USDJPY (+AUDJPY). I discuss some risk management in regards to account risk per trade to offset the increased exposure.
Lastly we have NZDUSD & USDCAD. We are looking for price to develop indecision at these SR areas so look toward Wednesday and Thursday for those to develop through. Following the nice short reversal on NZDUSD, this could be a great showing for this pair, so keep a close eye!
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