FX:AUDUSD Australian Dollar/U.S. Dollar
My longer term bias on the australian dollar is , and my favorite charts are GBPAUD and AUDUSD . On the GBPAUD I have a long position taken a month ago, which I'm slowly building up. On the AUDUSD I'm still trying to pick a top. Yes, top picking is usually useless, but I'm using very small positions that won't take more than 0.1% of my account, if I'm wrong. My plan is to build a position, not to take trades, and having a small short position at the top would boost my confidence. Two weeks ago, I got stopped out on my short, but I still remained , and I will be until this pair will go above 0.98000, come back and test 0.98000 and rally again. At that time, when we had the breakout, everybody was . Next day, bam, false breakout. On the 10th, retest of that false breakout, rejected. When will the downtrend start? Who the hell knows? But I really believe it will.