Tuesday, September 14, 2010

AUDUSD—not much change

I'm still long from .8913 and it's still up over 400 pips as this point but there has been little movement since yesterday. It needs to clear .9364 in order to continue its bullish rise. If it does so then .9406/20/50 will be possible. A break below .9221 would open things up for lower lows but the bears haven't been able to pull that off as of yet.

Resistance is at .9364, .9406, . Support is at .9312/00, .9289, .9207/00, .9185/70, .9092, .9067. .8911, and .8872/61.

No chart until something changes.

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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