Monday, 7 January 2008

EUR/AUD VIEW

Update: I did not take the trade as my spot did not get broken and also it's gone past 4.30 pm GMT. I never take trades after this time. More opportunities tomorrow...eh :-)

Looking interesting...I'm bullish AUD and bullish EUR.
A clear break above the 1.6955 level will get me in long @ the 5 EMA level. Timing is also crucial if price breaks this level before 4.30 pm GMT if not i will withdraw

1. I never recommend trading on Monday's but sometimes i take advantage.
2. I always use tight SL in these circumstances.
3. Will use 30min to monitor.
4. Keep an eye out for the DOW !


IF conditions are right:
TP1: 1.7040
TP2: 1.7120
SL: 40 pips from entry
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