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| AUDUSD Discuss market action in the Australian Dollar versus the US Dollar |
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| AUDUSD Discuss market action in the Australian Dollar versus the US Dollar |
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11-19-2009, 05:23 AM
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Entry: .9101
Stop: .8999 Target: .9750 (stop actively managed along the way) Daily Outlook: Uptrend line since mid March lines up with entry. Stop placement lines up currently with the 50MA, which will rise if the long term uptrend persists. H4 Outlook: Entry lines up with the 61.8 fib retracement of the last run from 11/01-11/16. (.8905-.9405) 
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11-19-2009, 07:42 AM
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Hey Zaek I have it going a bit lower to test the up trend line before continuing long. H&S shown on the 4H is a strong bearish sign maybe for the short term.
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11-19-2009, 11:52 AM
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I think this is a great example (especially for the newbie traders) that you can do well going for more than 10 pips a trade... 
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11-23-2009, 06:30 AM
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Even Steven...
....is where the stop loss is moved to. No sense in letting an early winner turn loser. Bullish action on the weeks open was typical throughout the last trade. However, it also usually led to fairly weak price action in the week to follow.
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11-23-2009, 12:28 PM
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So far, .9100 was well guarded. If/when there's a pullback, it would be nice to see .9150 and/or .9200 behave similarly. It looks as though one may be starting right now.
The daily & weekly charts show what seems to be a nice clean bounce from their trendline/MA support. There was much skepticism regarding the risk trade last week, so hopefully some dry powder is out there to keep the bids coming...
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11-23-2009, 05:11 PM
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 , and Wednesday should be nuts with 17 economic reports coming out for the USD last I checked. Great trade updates...
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