Trials and tribulations of a trader
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.
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