Thursday AM - AUDUSD

Yesterday I wrote that I was waiting for a pullback to enter Ozzie. I set up two buy orders (one at .8678 (just above its consolidation range) and the other well back within the range. Neither was hit although it came within a couple of pips of the first one. Had I not been at an appointment yesterday when that happened I might have bought there anyway but there you go. You can’t always be at the monitor. Some trades will get away. There will always be another. You can see this on the three hour chart: below.

I believe it might return to its range, at least the top, but on the 15 minute chat below, I just this minute put on a small long at the minor support of .8720 (filled at .8723). I personally would love to see it return to its uptrend line I wrote about yesterday even though I’d be stopped out. This was the .8587 point yesterday which is now .8621. Here’s the 15 minute chart:

None of the above is a trade recommendation. This blog only reflects my thougts and analysis for myself. Remember that trading involves substantial risk.

© Dianne Fecteau, 2009. 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.