Final One: AUDCAD Long...
that is some dodgy setting on the chart, with MACD being far below 0-level crosses and RSI not being really oversold. Yet, I believe that now is a good entry for the strenght of the channel and the possible fibonaci retracement about to kick in on the edge of a Bollinger Up. It's a sideways market so we can expect for prices to go way up in the not so far distant future. The combination of canada and Australia ensures that for the next two trading sessions to come, one of the currencies is the "home" currency, so we will expect some volume in the market. Plus, given the political instability in Europe, I prefer to stay out of any EUR-trade. Go AUSSIE!
that is some dodgy setting on the chart, with MACD being far below 0-level crosses and RSI not being really oversold. Yet, I believe that now is a good entry for the strenght of the channel and the possible fibonaci retracement about to kick in on the edge of a Bollinger Up. It's a sideways market so we can expect for prices to go way up in the not so far distant future. The combination of canada and Australia ensures that for the next two trading sessions to come, one of the currencies is the "home" currency, so we will expect some volume in the market. Plus, given the political instability in Europe, I prefer to stay out of any EUR-trade. Go AUSSIE!
Trade closed: stop reached:
I must admit, not my best call... Sideways turned into a downward trend and I was playing against it... Broke my own rule and paid for it...