Like most pairs, there's not a lot of action in AUDUSD. My blog post from yesterday still stands—there should be a correction upwards—possible points are .9852, .9944, and 1.0008 in three waves with a possible high of 1.0005.
Patience, patience. Once the market begins to move then there should be some good trade setups coming up.
© 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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