My longer term bias on the australian dollar
, and my favorite charts are GBPAUD
. 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 bearish
, and I will be bearish
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 bullish
. 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.