EDIT: Didn't enter short on the retrace like I planned, gave up some good profit. Have to start pulling the trigger and taking the risk when I think it's appropriate.
Monday, October 31, 2011
Aussie
As the news of the RBA's meeting came out and the policy release hit their site, the Aussie spiked down about 60 pips or so in a 10 minute time period. Unfortunately the spreads on the currency also shot up to around 20 pips on my broker so I stayed away. Now it's time to wait for a retrace up to the 1.05x level and see if we get rejection. If so I may enter short here for the targets I listed earlier.
EDIT: Didn't enter short on the retrace like I planned, gave up some good profit. Have to start pulling the trigger and taking the risk when I think it's appropriate.
EDIT: Didn't enter short on the retrace like I planned, gave up some good profit. Have to start pulling the trigger and taking the risk when I think it's appropriate.
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