Last night was a good and good timing played a major role. 45 pips profit was made. After the fall in the EUR/ AUD last night that broke 1.3675 and breached 136.00, the technical picture looks bearish at least in the short term. I will use short EUR/AUD 1.3635 with a TP 1.3566 and SL 1.3691.
The breach of 136.00 is what really makes me want to sell but there is always the risk off the move being overdone and a rally ensuing. 1.3550 is important support and the the bounce from 1.3600 hasn't been too enthusiastic. On the topside 1.3650, 1.3680. are the only near by barriers. 137.30 is next.
1.3640 is important on ht minute charts with trend line resistance present in the area. 1.3675 is again met with trend line resistance. We currently sit under the 100EMA on all time frames.
a 40 pip trail is a good safety net.
No comments:
Post a Comment