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Jan 14

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+87pips Short on AUDUSD – did you spot the sickly child ?

I am patting myself on the back as I write this…….one minute I want to pat some more. 😀

After 3 days of no trading; 2 days out of office and 1 day (yesterday) packed full of news that I wanted to stay clear of (read slippage post of last week to see why) I approached the market today a little rusty for intraday trading. Still what did I see first thing ? Wow hasn’t the USD weakened vs the EUR, GBP and AUD. The EUR and GBP positively gazelle like in their march up the Pip Charts. Like a swift shot of your favourite malt or bourbon- it didn’t touch the sides. But the AUDUSD march was less majestic; take a look at your own charts for this pair. The move was like dragging a screaming child thru the supermarket at the weekend. It went but with protest. This morning the pair had had enough and it was time to go home; it was time to think about shorting again. The unwillingness for price to stay above parity once again and the bounce of the Daily Pivot line gave me all the encouragement I needed to take it short.

The rest as they say is history, take a look below at my entry and target levels to ammass my 3% for the trade and back up for the month before we even get into the lucrative sessions in the next 2 weeks.

The Sickly Child

Have a good weekend. I am not trading next week as I am off to Indianapolis and Montreal – visit notes on my return.

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2011/01/14/87pips-short-on-audusd-did-you-spot-the-sickly-child/

1 comment

  1. FXTraderPaul

    Nice trade Jim. Well done.

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