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Short

2014/05/14 (Wednesday) Price Action

FX:GBPAUD   British Pound/Australian Dollar
98 0 0
A good breakout today from the positions held Tuesday and Monday we saw further losses against the AUD.
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Thursday will be interesting. We might see some profit taking tomorrow resulting in hesitation on the current down move, but indications are that we should be able to get to the target area in the next couple of days.
This is an active trade for me at the moment. Since this venue is new for me I will take this opportunity to tell you that I don’t move to break even, add additional positions or anything like that. If price moves against me all the way to my original stop loss, then so be it, I have more than enough winning trades with my discretionary approach. Set and forget. Only look at your charts once a day.
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