My Ironclad Rule

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

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Sunday, April 4, 2010

AUDUSD : Triangle


This pair closed below the the trendline. It's too early to predict the pattern now but based on my personal view, I'm short for this pair. I'm anticipating a slight upward move at least to the 0.618 retracement and will consider to sell in the yellowed zone. With tight stop loss at recent HI, my target will be at least 1.618 projection at 0.9160 and 2nd target is the last LO at 0.9135. 

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