Video: Trading the Potentially Significant Australian Dollar Reversal
Video summary: I wrote yesterday that I thought the Australian Dollar likely set a substantial low. I update those views today with a concrete look at trade setups.
This video likewise updates my DailyFX PLUS trading strategy biases, as they have changed from what I wrote on Monday. In short: I no longer like trading Breakout2 on AUD pairs, as the system does not often do well in times of sharp market reversals. I’ve likewise shifted slightly on Japanese Yen pairs.
View the table below for the full strategy rundown:
Strategy Preferences Broken Down byVolatility Pricesand Currency Trends
As always, I’ll keep my thoughts updated on DailyFX and send out trade updates via my e-mail distribution list.
Automate the Breakout2 trading system via the FXCM Apps store
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.