From the trading room: My AUD/JPY trigger

This morning as I was explaining options trading strategies around my forex plays, the Australian dollar decided to go ballistic.

During this time, some pending order were hit and one was the aggro trigger on the 240-minute AUD/JPY. Now this pair had an interesting backstory because there was not – and still IS NOT – a clear Directional Bias on the daily so really considering the 240-minute chart at all is aggressive (“aggro”) and even moreso when you consider the Jackson Hole Symposium begins tomorrow.

The video was recorded during the Forex in the Morning session so I am covering this at a pretty quick pace but it’s reflective of my pace and activity during my prime time hours of trading. I am wide open throttle between 7:30am and Noon EST.

Enjoy the video. I hope you’ll find it helpful in terms of why the break below the 200DMA is so important, why leaving pending orders is vital, and how I am managing the trade which is still open by the way.

Enjoy the video, it runs about six and a half minutes.

Questions? Comments. Leave ’em here at the blog!

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