My views on future trades, past trades, the market and lessons learnt

Friday, May 22, 2009

A/U Setups

Took a long on AUD/USD last night on one of my sub accounts. There was a nice bounce off the 100EMA on the Hourly Chart. Targeting 0.7900, Where, depending on Price Action I will look to go short.

My short targets will be the Blue Trend Line (derived from the daily lows). This show be around 0.7450-0.7500, Once/if we get there I will look to go long once more with a manual trailing stop, no profit target for that trade at this moment.

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