REPOST: Simply too irresistible not to start selling in ......
Plan the trade and trade the plan,
A perfect example here of that , we entered @ 80.50 and been comfortable ever since , overnight the AUD trade balance missed considerably, helping this trade even more .
We have moved our stop loss to 0.7940 to lock in some profit for now, but may move it tighter as this moves down to lock in more profit, simply because if Mr.Carney is less optimistic in the BOE meeting today, then this will cause some unwinding of cable (GBP/USD) giving the USD some short term strength which will have an effect on our cross pair.
July 27th :
Okay so thanks to the Rising commodity prices and good Chinese data yesterday
www.forexlive.com/ne...fits-191-yy-20170727
this has surged and we had an embarrassing display of jawboning which failed . The USD is getting punished right now with the DXY 0.05% hunters out for blood , All of this points to some more upside potential here , but I personally am at a level of starting to Sell in slowly..... to get a better average overall and not miss the move down eventually .
Reasons are this :
Aussie $ is feeding of the Chinese news, but don't forget the RBA meet next week and will not tolerate a higher AUD and I'm sure they will re-iterate there stance more intently about their worry for Wage growth in the labour MKT along with their Housing market .
The MKT will suddenly get reminded of this and think , oh yes they got a point and down we go .
Happy trading people
Selling short @ 80.50
Stop @ 82.30
TP levels will post later but first will be around the 0.786 fib level first @ 0.79 levels
Happy trading ........
A perfect example here of that , we entered @ 80.50 and been comfortable ever since , overnight the AUD trade balance missed considerably, helping this trade even more .
We have moved our stop loss to 0.7940 to lock in some profit for now, but may move it tighter as this moves down to lock in more profit, simply because if Mr.Carney is less optimistic in the BOE meeting today, then this will cause some unwinding of cable (GBP/USD) giving the USD some short term strength which will have an effect on our cross pair.
July 27th :
Okay so thanks to the Rising commodity prices and good Chinese data yesterday
www.forexlive.com/ne...fits-191-yy-20170727
this has surged and we had an embarrassing display of jawboning which failed . The USD is getting punished right now with the DXY 0.05% hunters out for blood , All of this points to some more upside potential here , but I personally am at a level of starting to Sell in slowly..... to get a better average overall and not miss the move down eventually .
Reasons are this :
Aussie $ is feeding of the Chinese news, but don't forget the RBA meet next week and will not tolerate a higher AUD and I'm sure they will re-iterate there stance more intently about their worry for Wage growth in the labour MKT along with their Housing market .
The MKT will suddenly get reminded of this and think , oh yes they got a point and down we go .
Happy trading people
Selling short @ 80.50
Stop @ 82.30
TP levels will post later but first will be around the 0.786 fib level first @ 0.79 levels
Happy trading ........
Trade closed: stop reached:
out for 110 pips that will do , didnt quite get to our target line because , RBA minutes were weak to harm the currency and Aussie retail sales ticked higher ,
Giving the Aussie a slight boost,
have a great weekend guys ...........
Giving the Aussie a slight boost,
have a great weekend guys ...........