EUR.USD - 08.30.09

Monday, March 3, 2008

AUD.USD - Continued Trade


As of this posting, the pair has rebounded over 100 pips as illustrated on the 30 min chart here.

Longer term traders could lock in profits under a trailing stop for a further push up.

Advanced Fibonacci techniques to pinpoint entry, stop and profit targets are well explained in books by Joe DiNapoli.

One thing for certain given our trade here is where one certainly would not want to turn a profitable trade into a loss. So, the suggestion here is to either manage the trade properly by either taking profits and look for your next opportunity for re-entry or employ a trailing stop.

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