Yeah, you didnt specify so I have it on close...will have a look now, so they are both on hi low/2?
Never say never.
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DislikedOk just updating progress for this month, we were -73, and this trade currently has +45 locked in, and is still running. So -28 for the month at the mo
current trade was a buy at 0.9550, market has moved up to 0.9640, so my sl is at 0.9595, = 45 pips locked in.Ignored
DislikedI closed my long position @ 0.9605.( and yes the pair continue up to 0.9720 ) I then open a short position @ 0.9602 with 2 lots and sl @ 0.9652. I thought that the long spike up was a head fake, but it wasn't so got my head handed to me, still learning. I am referring to wednesday night.
So today I think I got "lucky" so far for, now. I short the aud/usd @ 0.9696, and @ 0.9700 and finally @ 0.9707 for 2 lots each for a total of 6 lots.
Price is @ 0.9662, the "old high", which now is acting as support. Basically I have recovered my losses. I feels good to be even, now.
Targets: #1 @ 0.9567 and #2 @ 0.9522 - 50% fib. #
I know that the aussie bulls believe that the mrkt is still long. That is what target #1 covers. If the mrkt does find support there, I believe this could be seen as a "higher low"?
If the mrkt breaks belows target #2, 0.9522 the 50% fib. #. Would the mrkt still be view as being long?
Ignored
DislikedHi phloid
Raz began this thread for those who want to discuss trading the Aussie by the method developed by Jacko. I'd suggest you read this thread http://www.forexfactory.com/showthread.php?t=27286. After having done so, you will realise that the Jacko method is a trend-following strategy, not a swing trading method looking for reversals against the prevailing trend.
Not having a go at you mate and hope you don't take offense at my response - just wanting to refer you to one of the best education sources about forex trading you will ever come across.
Regards
TZIgnored
DislikedHi phloid
Raz began this thread for those who want to discuss trading the Aussie by the method developed by Jacko. I'd suggest you read this thread http://www.forexfactory.com/showthread.php?t=27286. After having done so, you will realise that the Jacko method is a trend-following strategy, not a swing trading method looking for reversals against the prevailing trend.
Not having a go at you mate and hope you don't take offense at my response - just wanting to refer you to one of the best education sources about forex trading you will ever come across.
Regards
TZIgnored
DislikedOK, thanks for those...so where would your stop be now then out of curiosity, if you hadnt taken profit...Ignored
QuoteDislikedMallorca Beach Club you say? Righto, just down the road, I mean coast...
DislikedHi phloid
Raz began this thread for those who want to discuss trading the Aussie by the method developed by Jacko. I'd suggest you read this thread http://www.forexfactory.com/showthread.php?t=27286. After having done so, you will realise that the Jacko method is a trend-following strategy, not a swing trading method looking for reversals against the prevailing trend.
Not having a go at you mate and hope you don't take offense at my response - just wanting to refer you to one of the best education sources about forex trading you will ever come across.
Regards
TZIgnored
DislikedHi all,
An interesting thread...
I don't trade the AUD/USD but I personally think that given the resource (iron ore and coal) boom currently taking place in the world, especially the huge rampant demand from China...
Combine that with the problems in the US and it would be a very safe bet to say that the AUD will be at parity with the USD very soon.
.
.Ignored
DislikedHi all,
An interesting thread...
I don't trade the AUD/USD but I personally think that given the resource (iron ore and coal) boom currently taking place in the world, especially the huge rampant demand from China...
Combine that with the problems in the US and it would be a very safe bet to say that the AUD will be at parity with the USD very soon.
The only issue is where to buy in...the current price of 0.9683 is too high (dangerous).
.
.Ignored
DislikedLooking for an entry now... but a bit confused... I would think a great bargain would be buying at .9600 with a stop at 9550, below the TL, hence safe...but I dont know if the market will get that deep. So I think a buy at .9650 is more reasonable on the expectation that the price should go up pretty fast due to the recent crisis in the US.Ignored