Greetings All! I was in New Orleans for the last week or so and did not have the opportunity to do much trading. But I'm back now and in the saddle again.I'm looking at the AUD/USD pair which has been trading in a channel for the last several bars. I will take the usual channel trade with this pair, buying or selling the pair upon a close above or below the channel lines on the hour bar. I'll move to break even at +50 pips and put a trailing stop on. If it breaks lower, it could go to the 800 sma (at the bottom of the chart). If it breaks higher it could go to the next resistance level on the daily chart at about 0.8500. Either way, we'll be ready.
Happy Trading!
