USD/JPY just kind of hanging out now after a very nice move. GBP/NZD is firing off again...very nice. Have shorted the GBP/USD at 1 6139 and have moved my stop to B/E. Here is an update on the AUD/USD:
Exited all trades: AUD/USD at .9240; USD/JPY at 100.95; and GBP/NZD at 1.9672. Total pips equal 439. Also, out of the GBP/USD at 5 pips. Now, looking to re-establish positions at a better price.
I put this trade on last night, and will try to stay in it for as long as possible (targeting 1.5000), and will try to build a much larger position as we go. This may not work, but its worth the effort. Up about 150 pips.
Have not been able to get a second position in on the EUR/AUD. Hope to get at least one more on early next week, but am up about 200 pips with the first trade. Looking at the AUD/$ chart and reading the fundamentals on Australia, there may be lots of "open field running" on all AUD pairs in the coming days/weeks.
Summary of EUR/AUD trading: two trades in now, #1 at 1.4580, #2 at 1.4747. I cleaned up the chart a bit and have new fib view of latest move. Here is the chart:
Update chart on the EUR/AUD. Trade 1 is up 370 pips, and trade 2 is up 203 pips. Have been trading GBP crosses this week, too, but no time to post those charts.
I'll wait for one more move to 1.5000 and then exit both trades. Anticipate a pull back at or around that price level. Will try to re-establish both trades on a pullback.
Exited both trades at 1.4981. With the Thanksgiving holiday coming up tomorrow, I will wait for a deeper pullback to reenter. Will hold on to my GBP/NZD trade for a few more hours, but may take it off this afternoon.
Update on EUR/AUD from today (Happy Thanksgiving to everyone on FF). Given the low volume today I am protecting this trade right away with a stop at B/E. If it comes back to take my stop, will look for a better price at a fib level. The following is a 10M chart for a clearer picture of entry:
