Looking for a long on the AUD/USD.
Entry: 1.06725
SL: 1.06446
TP: 1.07183
R/R: 1 to 1.64
Units: 100,000
Risk $250
Reward: $450
We are traders and masters of risk. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade. What I am saying is that the market makes all the decisions. Our only decision is to listen, feel, and respond to the market’s siren. Always and without exception. Remember, the market never lies. It is only we who lie to ourselves.
Wednesday, February 15, 2012
Long AUD/USD
Looking for a long on the AUD/USD.
Entry: 1.06725
SL: 1.06446
TP: 1.07183
R/R: 1 to 1.64
Units: 100,000
Risk $250
Reward: $450
Markets getting ready to roll over!
We've been on a uptrend since December 15, 2011 on the Aussie. Some pull back is needed to to help alleviate all the market buy pressure. Price could not hover above 1.0841 and now we are cosolidating between 1.0841 and 1.06372. Take note at the MACD histogram. We are finally under the zero line which means a change in trend. I am looking for shorts right now. The sentiment index is showing 40% long, and 60% short which means we are net long still. I am looking for short entry on the 5min. on AUD/USD. Lets see what happens.
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