vlad.adrian
Short

AUDUSD - another try on the short side

FX:AUDUSD   Australian Dollar/U.S. Dollar
219 2 5
My longer term bias on the australian dollar             is bearish , 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 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.
Timing is key
2 years ago
I like your anology on the Bull Trap, The greedy B#*&%ards even went back for seconds:)

Sincerely,

TIK
Reply
27.08.2014 I'm going on stand by for the moment. It does not look like this pair wants to go down. Short closed
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