09 March 2010

AUD/JPY : Bad Call

  • Initial trade : Short at 82.23. Added on at 79.80 based on daily bear flag (red rectangle).
  • Busted out on upside post NFP = middle of road number, not so bad as to signify economic weakness, not so strong as to stroke accelerated Fed tightening fears = increased risk on.
  • Now at 81.97. Hanging on to entire position which is averaged in at 81.02. May just be able to ride this storm out yet.

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