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The Trend of the Day - AUD/USD

The Trend of the Day - AUD/USD

2009-10-21 17:25:00
Gregory McLeod, Currency Analyst
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To pinpoint an entry in the direction of the daily trend, bring up a 4-hour chart (type "h-4" for Marketscope charts)  Look to enter long on a 2 pip break above the October 19th 4-hour high at .9311. Stops can be placed below the 4-hour swing low at .9182. Take profit with either a 1:2 Risk to Ratio or exit at the .9500 handle. Using the ENTRY button on the FXCM Trading Station II will allow you to set up this trade to trigger automatically. This takes the emotion out of the trade.

 

audusd trend of the day 10.21.09
 

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