The Second Double Bottom is clear on both the 1 hour chart – i missed the first one, but the market came back and gave me a second chance – which i didn’t miss. It has just completed and reached target at 75.70 which was at the Weekly M2 level. I saw this setup on a chart Wayne posted a month ago, but didn’t understand, and then saw a video yesterday of the 21 May 2015 webinar – lightbulb moment so i just recognized it! I have now tried a similar setup on the NZDJPY which we discussed during the webinar

I noted a double bottom earlier this afternoon - this shows the three points i waited for and entered at "3" which is also the Daily M1 - my target was 75.7 - the target was just reached - 37 pips

Dropped to a 15 min and thereafter a 5 min to get a good entry on an oversold Stochastic. Just better shows the first uptrend, the pullback, and my entry at the role reversal at DM1 at point 3

3 thoughts on “AUDJPY Buy on a Double – Double Bottom”

  1. Maryna says:

    Well done Zelda!

  2. Miles says:

    Congratulations for your great trade Zelda, and thanks for sharing!
    How many pips away did you place your stop loss initially?

  3. Zelda says:

    Hi Maryna, Miles,

    Thanks. It was 40 pips. I closed the trade then, but in hindsight should have left it open, as fundamentals helped pushed it even higher another 30 pips. Still happy though 🙂

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