Monday, March 30, 2009

Trade Idea - AUD/USD

This pair has been consolidating all day in a 60 pip wide channel. See chart below:


I'll buy on a break above the upper channel line and sell on a break below the lower channel line. Usual rules apply, except that I'm going to make the initial move to break even with +30 pips of profit instead of 50 because of the lower volatility of this pair recently. I'll keep you posted.

Happy Trading!