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Short EUR/AUD. Trade Explanation

Currency Pair: EUR/AUD
Side: Short
Amount: 5Mill
Time Frame: 1h
Open Price: 1.435257
Close Price: 1.43236
PnL: +29pips
Open date: 18.08.2014 16:32:20
Close Date: 18.08.2014 13:46:52
Reasons Behind the trade: This trade was based just on technicals alone and more precisely on the momentum pressure. After we established the 1.43420 and had a little bounce that fact that we didn't had any follow through made me consider taking this short. The main trend was also to the downside so in order to have …
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Long EUR/AUD. Trade Explanation

Currency Pair: EUR/AUD
Side: Long
Amount: 5Mill
Time Frame: 1h
Open Price: 1.43679
Close Price: 1.432972
PnL: -38pips
Open date: 15.08.2014 02:55:25
Close Date: 14.08.2014 09:24:32
Reasons Behind the trade: This trade was based just on technicals alone and although I was trading against the main bearish trend I only expected a small bounce but as it can been seen trading against the trend can be costly. Another big mistake I've done is that I've moved my SL to soon and to close to market action …
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Stix avatar
Stix 18 8月

I have EUR/AUD open as a possible opportunity today or further in the week. For now, I am looking for a possible entry long into the bias around 1.4355 area. :) I don't anticipate that I have Leverage for it this morning.

Daytrader21 avatar

Stix I don't know what to say about that because for me it was just a short term trade taking is consideration that I was trading against the main trend and there may be the case the current euro bearish trend may weight more and keep the pressure to the downside.

Stix avatar
Stix 18 8月

I agree. It's against the Weekly bias, so any long is limited. I see a long Daily bias, so I was thinking it's an opportunity for a trade to 1.4420 area and then a short back into the main bias. Technicals move all the time, so that's just a rough drawing for what I see this morning. :)

Daytrader21 avatar

Stix I hope it will work for you but for now I'm going to stay out and wait for a better opportunity.

Stix avatar
Stix 18 8月

Thanks. I too hope my judgment is good this morning. In hindsight, EUR/NZD is about 30 pips a better opportunity. I was unhappy with the support and still think it will come back for 1.5755 area. I might have waited for it - I still have much to learn, Daytrader21 ! Thanks. :)

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Trade Explanation

Here I'm going to give my explanation of my latest trades:
Currency Pair: EUR/JPY
Side: Long
Amount: 5Mill
Time Frame: 4h
Open Price: 136.66
Close Price: 136.983
PnL: +32pips
Open date: 06.08.2014 13:41:06
Close Date: 07.08.2014 05:16:52
Reasons Behind the trade: This trade was based pure on technicals, simply support and resistance levels on an intraday levels. But also on correlations as well as EUR/USD price action looks very oversold so I was expecting a short squeeze and this will drag EUR/…
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Neu_spir8 avatar

Nicely analysed pal and by the way i got messed up when laughed about ur lose, my apology, will never do that again.

Daytrader21 avatar

Neu_spir8 Take it easy I never interpreted your comments that way. I laugh about my losses all the time:))

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Aussie - Why I was shorting AUD/USD

You may be asking yourself why I've been shorting AUD/USD near the low. Many people wrongly assume that if a market has gone done "to much" and for a long period of time, the market must reverse. Well that's not reason enough for you to assume the current down move is over, we have to look at facts rather than personal opinions. Trading in the direction of the trend is much more easier than fighting the trend. Although I already posted some fundamentals reasons behind the current aussi
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AdamFx42 avatar
AdamFx42 4 12月

Thanks for pointing out my mistake in my blog - I corrected it in the comments box (ADP Nonfarm - not NFP)

Daytrader21 avatar

Unfortunately I couldn't upload a chart with some notes to explain much more better the current situation

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