As soon as I woke up this morning I entered the AUD/USD long based on the analysis in my prior post from the weekend. That's the picture on the right (I'm having a little trouble posting pictures but I'll figure it out). I wish I'd woken up a bit earlier but there you go. In any case, even though it was up only 30 pips at this point I decided to move my stop to breakeven (the red line) because I'm thinking I can get a better entry on a pullback. I'm a technical trader so I don't pay a lot of attention to news. But I'm wondering if the good news from Australia (businesss conditions up and more important, business confidence up) isn't behind this quick spike.
I also went long GBP/USD this morning (the chart on the left above) but only after getting stopped out from a short. I honestly think this pair is weaker than it's acting but price behavior trumps my opinion at the moment. After some nice long candles, though, there's a little uncertainty being indicated by the market. Its stop is also moved up to breakeven plus 10. Here's that entry on the hourly chart.
No comments:
Post a Comment