My Ironclad Rule

"It's not how many pips you make, It's how much risk you take"

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Monday, April 12, 2010

AUDUSD : Bearish Butterfly

 
This pair is also the same with GBPUSD where it completed its butterfly pattern. However, I prefer not to sell this pair early because the probability of forming extended butterfly at 1.618 XA for this pair is relatively high. Mind that this pair is approaching the HI for last year at 0.9400. I might sell this pair if it reach the zone - double top.

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