Wednesday, March 7, 2012

08/03/2012 Long AUD/USD [Close]

This trade is based on the overall trend of the daily and weekly. The daily pinbar is also looking nice but I do not like the daily trendline above and also the big red bar prior to the pinbar.

Trade: Long AUD/USD
Open Price:1.0599 + 4 spread
Stop Loss: 1.0490
Reason(s): Daily pinbar, daily and weekly trend seems to be up.
Caution: Does not like the daily trendline. Trade may touch the trendline and move back down.
Risking: 0.8% of my account balance

Moved stop loss to breakeven +8.

Got stop at BE +8.

 Looks like it really did move down after touching the trendline. 1.0650 area seems to be an important area too.

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