Well, finally, I have a beautiful chart to show off again. I have been trading for the past few weeks, but , there was no good trade to show. If you have been following this blog, you know I was looking for Long opportunity after Aussie hit new 52-week high.
Here is AUDUSD long trade. The trade was established yesterday, and profit target of 0.98 is achieved around today’s London session opening. A +2.4R trade, or 110 pips profit.
Anyway, here is the….CHART!
[photopress:LongAussie15July2008.JPG,full,1]
By Trader Gav
Hi Gav,
Love your site,
Just wondering if you use macro factors eg commodity prices,interest rates etc as well as techical analysis in your formation of a view?
to me the macro picture looks mixed and this is showing up as conjestion on the AUD/USD chart..
and hey do you think the 100 SMA will hold AUD from rolling over?
bifn,
hisgavness
Hey hisgavness,
Glad to have you here.
Well, to answer your question. I do look at some fundamental information such as commodity trend, interest rate etc. However, most of my trading decision come from technical considerations.
For Aussie, RBA hinted a possible rate cut in the coming months..well, is that a joke? Maybe I am wrong 🙂
Have a good trading day.
Hi Gav,
Love your site,
Just wondering if you use macro factors eg commodity prices,interest rates etc as well as techical analysis in your formation of a view?
to me the macro picture looks mixed and this is showing up as conjestion on the AUD/USD chart..
and hey do you think the 100 SMA will hold AUD from rolling over?
bifn,
hisgavness
Hey hisgavness,
Glad to have you here.
Well, to answer your question. I do look at some fundamental information such as commodity trend, interest rate etc. However, most of my trading decision come from technical considerations.
For Aussie, RBA hinted a possible rate cut in the coming months..well, is that a joke? Maybe I am wrong 🙂
Have a good trading day.