Okay so the USD weakness has constituted towards this retrace on this pair it hit the 0.382 fib and bounced higher , very important to note, yesterday saw the greenback get slammed by the crossed pairs, and @ 13.30 today we see the figs for the final GDP.
With all the volatility on the USD, if it disappoints ...........we will ride the wave higher ( very short term ), until we get to the confirmed strong selling zone which is from 0.77-0.7750
So longer term we are short on this pair but we can grab a few pips on the way up, to a safer confluence zone. IF GDP is impressive then its at the 0.618 fib line now, so selling after the news would be fine as by rights this will act as a good resistance level. Stay alert though.....
* If GDP disappoints entry @ mkt , cash out around the 0.77-0.7750 area
* Entry short @ 0.77-0.7750
* stop loss @ 0.7850 just below the 0.786 fib
* TP @ 0.7660 just above the 0.618 fib line
Happy trading people !!!!!!!!!!!!!!!1
With all the volatility on the USD, if it disappoints ...........we will ride the wave higher ( very short term ), until we get to the confirmed strong selling zone which is from 0.77-0.7750
So longer term we are short on this pair but we can grab a few pips on the way up, to a safer confluence zone. IF GDP is impressive then its at the 0.618 fib line now, so selling after the news would be fine as by rights this will act as a good resistance level. Stay alert though.....
* If GDP disappoints entry @ mkt , cash out around the 0.77-0.7750 area
* Entry short @ 0.77-0.7750
* stop loss @ 0.7850 just below the 0.786 fib
* TP @ 0.7660 just above the 0.618 fib line
Happy trading people !!!!!!!!!!!!!!!1
تم فتح الصفقة
Okay so what did we do...............What we said we would obviously , so post US GDP figs were good we saw it dip and went long @ 0.7660 closed out @ 0.77
Now we have entered half a position @ 0.77 and will add to it @ 0.7750 should it get back there.... right now Copper is up and holding the AUD right now , so just be patient
Stay tuned guys ........
تم فتح الصفقة
Okay guys we are in this @ 0.77 and now 90 pips in profit, expect this to trickle even lower over the next few days, the RBA shocked the MKTS by a less than positive tone ...If AUD trade balance disappoints (ASIA session Thursday )then expect this to head towards the trend line support @ 0.7550-0.7530 levels
stop moved to 0.7650 to lock in 50 pips profits for now
happy trading
ملاحظة
Moving the stop loss to 0.7630 as there is a large option expiry on this puppy @ 14.00 today @ 0.77 good luck guys ..............
ملاحظة
Entered short again at .7740Happy trading
Remember PPI and CPI over the next 2 days
So could be interesting
أغلقت الصفقة: تم الوصول لوقف الخسارة
we had a stop in place as mentioned above at 0.7850 which was hit no harm done next trade
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