Next Week Important Levels

Some levels to look out for.


84.25 - I have set a pending order to go long here.


83.65 - Will enter long with more lots on this level.

Possible Trend Change

It breaks my last resistance trend line. Let's see if the resistance turn support trend line can hold the price. If it can hold the price well, then we will be expecting a trend change.


By the way, I did not post my trade call yesterday. I entered at 82.899 and exited at 83.445. Refer to the chart why I entered and exited at those price.

Exploring Carry Trade AUDJPY

Exploring carry trade of AUDJPY how the interest can made the trade a break even with the worst entry.

Let's assume the following.

Entry price = 84.00

Lowest price = 55.11

84.00 - 55.11 = 2889 pips to reach 10 years lowest. We hope that it will not reach the low of 55.11

So we need how much money to hold this trade to avoid margin call? Depending on your trade size. Let's take 1 pip = $1.00, so we need at least $2889.

How long can the interest make $2889?

I did some code in mql4 to find out. By the way, I'm using oanda so my deposit gets interest too.

   int Break_Even;

   double Interest, Units;

   double Int_Trade, Int_Deposit;

   double Entry_Price, Lowest_Price;

   Int_Trade = 3.3;

   Int_Deposit = 3.85;

   Entry_Price = 84.00;

   Lowest_Price = 55.11;

   Units = Entry_Price * 100;

   while(Interest < (Entry_Price - Lowest_Price) * 100)

   {

      Interest += Interest * Int_Deposit / 100 / 365;

      Interest += Units * Int_Trade / 100 / 365;

      Break_Even++;

   }

   Print(Break_Even + " Days");

We need 3199 days to make $2889! It is around 8 years plus.

Breaking Resistance

As stated in my previous post, the price bounce off at 82.50 and breaking resistance levels.

If it continues to break the highest resistance level, we should be expecting a change in trend.

Long At Support Trend Line

Two important support levels at 83.686 and 82.314 on the daily chart.

I took long yesterday at 83.788 and exited at 84.457


Price retrace back to the support levels. Hit long again at 83.90 as I see downside is limited today.

Tricky Day

A pin bar formation on the daily chart hints bullish trend.

On hourly chart, seems bearish. Today gap up a lot, making the strength indicator not accurate.

So my guess today is to long. Enter at 86.25.

1st TP at 86.90

2nd TP at 87.35