One Aussie trade

Posted on July 15th, 2008 in Trading Journal

Well, finally, I have a beautiful chart to show off again. I have been trading for the past few weeks, but , there was no good trade to show. If you have been following this blog, you know I was looking for Long opportunity after Aussie hit new 52-week high.

Here is AUDUSD long trade. The trade was established yesterday, and profit target of 0.98 is achieved around today’s London session opening. A +2.4R trade, or 110 pips profit.

Anyway, here is the….CHART!

By Trader Gav

From the desk of Tradergav.com

Tags: AUDUSD, FX, Trading Journal

hisgavness

Hi Gav,
Love your site,
Just wondering if you use macro factors eg commodity prices,interest rates etc as well as techical analysis in your formation of a view?
to me the macro picture looks mixed and this is showing up as conjestion on the AUD/USD chart..

and hey do you think the 100 SMA will hold AUD from rolling over?

bifn,

hisgavness

Gav

Hey hisgavness,
Glad to have you here.
Well, to answer your question. I do look at some fundamental information such as commodity trend, interest rate etc. However, most of my trading decision come from technical considerations.

For Aussie, RBA hinted a possible rate cut in the coming months..well, is that a joke? Maybe I am wrong :-)

Have a good trading day.

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