Discussion in 'Forex Trading' started by cashmoney69, Jun 6, 2007.
Anyone watching this?!..wow!, up 86 pips as of now.
If this is one of your favorite cross pairs why don't you start posting some of your trades? it could even be demo account trading as that is a learning experience.
The reason I am asking is I have been watching the pair for a while and thought it might be the pair to trade for the overnite (asian) session. I am considering demo trading to see if it could be profitable using the same strategies I use for gbp/usd
What a crazy move down in 2 days. Nearly 800 pips in 2 days. I hear it is carry traders unwinding, but whatever the reason, I can't ignore the IR differential of positive 5.2% per annum for taking it long.
So I'm in long 130k from an average price of 101.07. Open unrealized profit of ~$1400 at the moment. If history repeats itself, a big sell off like this has its peak recovery in 5 trading days. So I'm going to hold until Fri if it doesn't reverse and stop me out at break even.
If I'm still holding over $1000 open profit by Friday, I'll be more than happy to take it over the weekend for another 2 days of interest.
Price target 106.00 by next Monday
I agree with it going to 106 but not by Monday. I'm thing 107-108 in two weeks but it sure would be nice to see the 50% fibo from march to july @ 98.2. I'll be going long every time we go below 100. I will also be shorting the AUD/USD in the meantime TP @ .84 and .83 stops @well.... They are for daytraders!
aud data.. now.
shorting AUD/USD at .8580 not liking action of AUD/JPY at 102.5 will surely go below 100 now.
AUDUSD traded with a low of 0.8554 and a high of 0.8603
98.50 here we come!!!!
Where by Wed? 98 or 104?
We just reached some resistance at 100,37. 38,2 % Fibonacci-Retracement 95,50-107,72 move....if break-through look for 102,50...
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