Monday, May 7, 2012

$AUDUSD stopped out swing long, -34 pips

Well, that didn't take long.  Stopped out of $AUDUSD swing long from earlier today for a -34 pip loss.  There was a news release tonight at 9:30 PM ET regarding the Australian trade balance, and it came in worse than expected. 

$AUDUSD 15 minute
There were a few signs that the trade wasn't going to hold up.  Some key tells were:

1) The upward trendline and a revised trendline weren't holding
2) There were no longer new swing highs and swing lows on the 15 min chart (indication that the upward trend was over).

Now back to waiting for the next solid setup...

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