Saturday, February 12, 2011

Solid Week with the Aussie

Account up around 1% this week after a couple of early stops.


My first punt this week was on the EURGBP off the trend line resistance. Looking at it now was approaching the 76% fib from the January move North and the 1 hour chart was showing price momentum divergence - pretty poor selection for first trade of the week. Stopped out pretty rapidly.



My second set-up was on the EUR/JPY - as a ABC corrective move short. This one didn't leave we waiting either - so zero from 2 early in the week.



Then the AUDUSD set-up again fro a corrective Wave sequence down on the 1 hour. I took it off the top last Friday and got out with a modest profit prior to the US payrolls. I re-entered this week off the retracement to the 76% fib levels and rode it all the way down to parity. I took some profit on the way down to reduce my risk.










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