Entry: .9008 (~1 week ago)
Stop: .9009
NFP will make or break!![]()
Entry: .9008 (~1 week ago)
Stop: .9009
NFP will make or break!![]()
NFP Trading Plan
If AUDUSD...
a) Crashes through the stop, sit on hands for cue on next direction.
b) Hits stop and stalls, look to re enter on signs of strength.
c) Rallies, then falls, keep stop at breakeven
d) Rallies, and holds, move stop to .9100 (~+100 pips)
Stop moved to .9142
Current support areas: .9260, .9200
AUD/USD pushing up against resistance. Are you thinking a breakout above the 93 level?
That would be ideal.
I'm carefully trailing my stop.
Moved it today to .9162
Im long AUDUSD from 9160. Hoping to see the Aussie explode up to .94 or .95 very soon.
Any feedback? Opinions?
Looks like you may see .94 today...
I'm targeting just shy of .98
Stop's currently at .92, but I'm seriously contemplating moving it just below the recent short term support @ .9250
I agree. Like you noticed, most steep drops over the last two weeks get bid up almost immediately after. Makes me wish I had the 'sand' to buy more dips! Playing it safe for now... Here's my 2 cents from my blog just now...
Monday, November 16, 2009
Tough Call
"...today was a good day." - Ice Cube
While it's tempting after today's gains to slide the stop up a tad, I've decided against it. We tapped a high at .9405. Since then price action has held stable, but looks as though it may test the range we just broke out of again. Keeping the stop ~150 pips below current ranges has worked for two weeks, while over-tightening would have booted us a few times over.
On the daily charts, the most recent swing low is still .9200 . There was a brief pullback since then in which .9260 held, but the correction was sideways and not the more healthy "two steps forward, one step back." While seemingly bullish, we could retest this range to shake out the "weak" longs. If it is, in fact, bullish then there's nothing to worry about. If it turns out to be a true loss of momentum then we're stopped out at a moderate 2:1 R/R ratio.