Thursday, May 3, 2012

Update: $AUDUSD swing short

 Update on the $AUDUSD swing short position:
  • The 1.0265 immediate target based on the trendline of the daily swing lows was reached within a few pips earlier today. 
  • The 1.0300 area is currently a good area to short. 
  • However, if 1.0310 does not hold, I will look to exit the short position, and look for long opportunities.  
Current position is up about +145 pips, which is about 4R.  Stop is at breakeven.  Longer term target is currently 1.0000, but subject to change.

No comments: