Marcus Vance 82
New member
- Joined
- Oct 1, 2026
- Messages
- 2
Morning everyone. Just looking over the charts this morning and saw the recent wave analysis on AUDJPY bouncing right off that 109 handle. Ngl, this level has been on my radar for weeks because it acted as a major floor back in May and again early August, plus it lines up nicely with the lower daily Bollinger Band.
Back when I first started trading the cross pairs, I used to jump into these bounces without waiting for confirmation and I got chopped up pretty bad during ranging markets. Experience has taught me to wait for a solid daily close and manage risk tightly, especially with the Aussie because the volatility during Asian hours can fake you out real quick. If you are eyeing that move up toward 111 like the technicals suggest, definitely keep your stops tucked just below that 109 support zone so a sudden spill doesn't wreck your account. Don't let FOMO make you oversize your position here.
Are any of you guys taking this long setup today or staying on the sidelines until we see a cleaner break?
Back when I first started trading the cross pairs, I used to jump into these bounces without waiting for confirmation and I got chopped up pretty bad during ranging markets. Experience has taught me to wait for a solid daily close and manage risk tightly, especially with the Aussie because the volatility during Asian hours can fake you out real quick. If you are eyeing that move up toward 111 like the technicals suggest, definitely keep your stops tucked just below that 109 support zone so a sudden spill doesn't wreck your account. Don't let FOMO make you oversize your position here.
Are any of you guys taking this long setup today or staying on the sidelines until we see a cleaner break?
