Sunday, June 13, 2010


For my latest trade, I decided to sell AUD/NDZ following a posting on dailyfx about the sinking economy in Australia. Looking at the graph, I thought I saw a trend developing in which prices had just bounced off the top limit (I don't know proper phrasing for this), and would begin to decline once again. However, unfortunately as soon as this trade happened prices began to rise again, going against my prediction. I have a stop loss in place just in case prices continue to go up, but I'm hoping that soon the trend will resume downwards. I also have in place a limit for just around the lower trend line, just before prices should bounce back up.

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