Is it time now?uhm…AUDUSD

Posted on July 24th, 2008 in Trading Journal

Ok, first rule, I am only looking at the Long side of Aussie dollar (AUDUSD) and GOLD. Are we going to have rate cut in the coming month? Nah, I don’t think so. In fact, I have no idea what on earth is the new government doing now. Whatever…

Anyway, for trading purposes, I feel 0.96-ish is a pretty nice Long entry zone. I am waiting for entry setup to form.

Here is the …. CHART!

Here’s the statistics

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Here’s the statics

About this tool

From the desk of Tradergav.com

Tags: AUDUSD, FX, Gold, Trading Journal

Caravaggio

Hi TG, have you seen Oanda's new pages on the economic indicators. Pretty cool:

http://fxtradeinfocenter.oanda.com/fxeconostats...

Looks like 5% carry in your favour on AUD. That would be a nice cushion for an outright cash position. I'm a bear talker on gold and AUD, but over a much longer horizon than what could rightly be called 'trading.'

: )

Gav

Caravaggio,
Man, cool stuff! Thanks for that.

I totally understand your bearishness of AUD over the 'non-trading' time frame. :-)

I am not totally positive on the economic perspective of Australia. But, well, for a small currency trader like me, riding the the wave is more important than my personal view..I guess :)

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