Tuesday, January 26, 2010
I Closed my AUD/USD Short Now at 0.8945
Although I'll probably regret this as it seems like the dollar is about to soar and the stock market is about to tank, but I can't get the clear 5 wave structure out of my head that the AUD/USD has formed by making new lows last night, including the apparent 4th wave triangle which leads to the thrust we just had to new lows, but also leads to an immediate reversal. So to protect profits on my trades, I closed my AUD/USD position. I originally entered this short trade at 0.9060 and closed it at 0.8945 for a 115 pip profit. My GBP/USD remains open as it just completed a 5 wave decline from yesterday's highs and is about to make a new low which might be the start of a wave 3 so I'm hanging on.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.