[TW] 2-6-2012 Long EURAUD by eddardstark

[eddardstark]

EURAUD 4hr

Long or Short: Long

Entry Point: 1.2280

Stop Loss: 1.2230, below most recent low

Profit Target/s: 1.2330, 1.2380, 1.2430, 1.2480

Reward-to-risk Ratio: 1:1, 2:1, 3:1, 4:1

Risk percentage: 1%

Indicators: none

Trade Rationale: The pair is at the bottom of the range and previous low. I think with the RBA expected to cut rates next week, we'll see an AUD sell off.

Trade Adjustments: Move stop to breakeven as soon as price goes up by 50 pips, then move it every 50 pips until I hit my ultimate profit target.

Read more: [TW] 27-1-2012 Short EURUSD by manipakyaw

[moneyt825]

EURAUD 4hr

Long or Short: Long

Entry Point: 1.2280

Stop Loss: 1.2230, below most recent low

Profit Target/s: 1.2330, 1.2380, 1.2430, 1.2480

Reward-to-risk Ratio: 1:1, 2:1, 3:1, 4:1

Risk percentage: 1%

Indicators: none

Trade Rationale: The pair is at the bottom of the range and previous low. I think with the RBA expected to cut rates next week, we'll see an AUD sell off.

Trade Adjustments: Move stop to breakeven as soon as price goes up by 50 pips, then move it every 50 pips until I hit my ultimate profit target.

Read more: [TW] 27-1-2012 Short EURUSD by manipakyaw

I agree 100%. I am long GBP/AUD, short AUD/NZD and short AUD/USD. GBP/AUD is at the bottom of its range, has had 7 weeks of decline and reached its 30 year low. AUD/USD is at the top of its range and has formed a triple top. And with NZD keeping its rate steady and increased demand for the Kiwi, I believe this pair should reach the bottom of the weekly bollinger band around 1.2650.