Favourite currency pair: AUD/USD

[trader123]

AUD/USD is my favourite currency pair simply because it is most predictable.
I had done back-testing on AUD/USD, and found out that Bollingerband is the best indicator to track buy and sell signal.

So trading AUD/USD is a systematic process to me:
First my proven indicator Bollingerband must signal buy on the daily chart.
Second I use 10 min chart to look for entry level.
Third find a level for the stop.

So since daily bollingerband is still showing buy signal, I had entered a trade based on 10 min chart, and bought 100,000 AUD/USD at 0.9609.

[learningfx]

Originally Posted by trader123

AUD/USD is my favourite currency pair simply because it is most predictable.
I had done back-testing on AUD/USD, and found out that Bollingerband is the best indicator to track buy and sell signal.

So trading AUD/USD is a systematic process to me:
First my proven indicator Bollingerband must signal buy on the daily chart.
Second I use 10 min chart to look for entry level.
Third find a level for the stop.

So since daily bollingerband is still showing buy signal, I had entered a trade based on 10 min chart, and bought 100,000 AUD/USD at 0.9609.

Hi Trader 123,

Is it that you placed a long because the price was above the middle BB on Daily and showing uptrend? On 10 mi it looks like a down trend to me? Can you please comment so that I can understand your decision.

Thanks

[trader123]

Sorry, I think I miss your question. Now I had forgotten why I had entered this trade. Take a look at my home page, my explanations for my trades are all there.

[gliver]

This discussion is very useful