Hindsight is a wonderous thing .. especially for new traders.. Shudda, Coulda, Woudda..... DIDNT!
Aud 1.0588 Long stop is now to entry and a risk-free trade. As the trade was taken on the 60 minute time frame we will stick to the 1.618% of the 500 ATR which is 35 pips. The first TP therefore should be 2 * that. 2nd TP will be 3 * the ATR with a balance running should a trend commence..
Yen crosses did indeed rebound but still no confo on either one.. That being said and given the daily charts we should see them topping here for a retrace into London open.
Tuesday, 31 January 2012
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