Monday, November 12, 2012

AUDUSD Channel Short Trade AUDUSD Short Trade
I posted the possible setup on Friday. Details [here]. And now the setup is materializing.

Price has bounced to the channel's upper trendline early Asia trading due to news event early morning.  

I am shorting this pair at current price at 1.0417 and will open another short at the upper horizontal resistance area around 1.0440/45. 

My stop will be the break and daily close above the upper horizontal resistance and target lower resistance area.

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