Thursday, December 13, 2012

AUDUSD Daily Channel Trade Plan AUDUSD Channel Short Trade
On Daily charts price is moving up in ascending channel. This channel is in place since Oct.

A daily resistance level is coming up at 1.0620/30. This area is highs of  14-Sep and 9-Aug. Currently price is near to this area and any spike towards it should be considered as short trade opportunities. 

The channel break trade I took on hourly charts hit SL. 

I plan to go short on touch of either channel's upper trendline or resistance area. Till then I will be on sidelines.

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