Trade your plan.
Why a small TP, mate. I understand that should be 1.04283, right.
Reading the news I'm not so confident that it will reach that height and may lower my TP.
The factors that have contributed to a falling AUD are still in place: Global growth slowdown, Chinese slowdown, and the Australian Government's budget-surplus goal that they plan to achieve through spending cuts:
http://www.theage.com.au/opinion/pol...328-1vysl.html
Today's descent was influenced by the US releases (Initial Jobless Claims, GDP) and their role in solidifying confidence in a strengthening US dollar.
What in your view is going to drive the Aussie up?
- #42,446
- Mar 29, 2012 11:43am Mar 29, 2012 11:43am
- Joined Sep 2007 | Status: Trader | 1,673 Posts | Online Now
- #42,450
- Mar 29, 2012 2:41pm Mar 29, 2012 2:41pm
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
Dear forex gods, why must thou continue to punish thy bulls? Is it because the unfaithful bulls have been worshipping the Golden Calf? Have they been seen in the temple dealing with the evil money changers; and trading their valuable paper script for worthless piles of gold and silver coins? http://www.forexfactory.com/images/icons/icon5.gif
Oh JerryCollie, we, the Almighty Forex Gods, have been noticed your prays. The blood of the bulls has been an adequate offering, their sacrifice accepted, and now the nasty bears will pay for their limitless greed. See our power unleashed in the next days/weeks...
Use me as a contrarian indicator 
- #42,452
- Mar 29, 2012 3:13pm Mar 29, 2012 3:13pm
- Joined Jan 2009 | Status: Pharaoh | 1,612 Posts
Don't have an ego. Always question yourself and your ability.
- #42,453
- Mar 29, 2012 3:27pm Mar 29, 2012 3:27pm
i dunno, is this going to work?
Good luck
- #42,455
- Mar 29, 2012 4:49pm Mar 29, 2012 4:49pm
- Joined Oct 2009 | Status: magic | 1,729 Posts
good job........lets see if we can get down to 260ish 
Shorted @ 1.0383, Sl 1.0423 for a re-test of 1.0300-1.0320
- #42,458
- Mar 29, 2012 5:14pm Mar 29, 2012 5:14pm
i have a feeling 400 might break soon, looks like a magnet to the price, twice tested yesturday an looks like its testing it at the moment imo, might have time to open another trade, 15 more pips an ill be at 400pips for the week on aud/usd