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Trading AUDJPY

Discussion in 'General Forex Talk' started by No Time, Jan 1, 2008.

  1. No Time

    No Time Private, 1st Class

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    Hi everyone,

    Is anyone trading AUDJPY heavily? I found this pair very good for me to trade because I get home when the Aussie session begins or there just after. I used to trade GBPUSD, but with the low volume in the evening time in Chicago it was not moving untill 2am. Even with sl and tp I like to see the price movement. Besides the 5 pip spread on the AUDJPY the pair seems to prove my indicators pretty dependable. I find myself scalping this pair. I am still demoing this pair. I was just wondering if anyone has had experience with this pair.....?

    It would be much appreciated to hear any feed back on how anyone trades this pair. Thanks.

    NoTime
     
  2. No Time

    No Time Private, 1st Class

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    Hi everyone,

    I have been demoing the AUDJPY pair for about one month now. With my schedule I am able to spend time trading when the Aussie session opens. This seems to work out well for me. I used to trade the GBPUSD, but it really didnt have the volume to move the way I like at the time I am able to trade. Even with tp and sl I like to keep an eye on the price action!

    Switching back to the AUDJPY pair, besides the 5 pip spread,among other things I get a positive carry trade and my indicators seem to prove dependable with this pair between 5-8pm Chicago time. I usually am scalping this pair.

    I was wondering if anybody is heavily trading this pair or has experience trading this pair and would be willing to share their insight/ thoughts about it......?

    Your help would be much appreciated.
     
  3. onshore

    onshore Private, 1st Class

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    HI No Time,
    Just been looking at the AUD/JPY lst few days seems to spike around nine pm NZ time then retace during the day.

    are you trading on the Aus markets open ???
     
  4. Barracuda

    Barracuda Recruit

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    I've been trading the AUDJPY as my only pair for at least 6 months now, got 4 screens of the pair going at all times along with the DJI and AUDUSD for references during the US session. It's a great pair to trade especially if your with an interbank (im with EFX/MB) because the commissions are much lower than most other pairs. I really do not trade at night however their is plenty of movement on the early US session for this pair and in the latter end of the session. I tried GBPJPY for awhile and for me personally, just didn't have the "stomach" for it....a bit too volatile for me as I trade a real account. I also trade EURJPY for awhile and came to my personal conclusion that AUDJPY behaves better, by this I mean I felt EURJPY had alot of whipsaws. AUDJPY also seems to respects Fib levels and overall works well with my indicators and can be traded on smaller timeframes due to decent volatility. My .02 :)
     
  5. No Time

    No Time Private, 1st Class

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    Hi onshore,

    Yes I am trading around the time of the Aussie open.

    As far as the spike at 9 pm NZ time, that could be the UK open/ volume creating the spike you see sometimes.
     
  6. No Time

    No Time Private, 1st Class

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    Yo Cuda,

    I appreciate your valid input. As I study the AJ i think its important to see how the underlying majors (AU and UJ) are fairing on the cross. I am still studying the cooralation between the AU and UJ and how they affect the AJ.


    I agree, it does seem to respect the Fib levels on the larger time frames.

    What software are you running your charts on? MT4?

    As I said I am still new to forex and the financial market as a whole and I want to sharpen my skills by gaining knowledge.
    Could you give me some insight on what is working for you as far as indicators and time frames?

    Thanks,

    No Time
     
  7. Barracuda

    Barracuda Recruit

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    Here is a snapshot of one chart I use, chart is the same for all timeframes. I use the 1 min, 5 min and have a custom program for MT4 which allows me to have a 2 min and 3 min chart too. My trade style is based solely on entry at major support/resistance, Fib and pivot points when price action has reached an oversold/overbought condition, this is where the indicators come into play as they help me pinpoint those conditions. I use around 8 indicators on each chart and their is a procedure to using the custom timeframes too. If you want all the indicators and the template I use, please private message me with an email address and I will forward it to you...It will take me some time to compile and explain everything in the email. Thanks
     

    Attached Files:

  8. Woodcrusher

    Woodcrusher Private

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    Traded AUS/JPY for a while in August / September. But then market changed, and I feel it is also very choppy now. But I will take a trade now and then and also make some decent profits with it.
     
  9. Nyust

    Nyust Private

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    Any recommendations for AUDJPY trading signals site?
     

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