Posted by: joetradingplace | April 26, 2012

Long Aussie

Audusd

We have a new position, long aussie, we have taken partial profits +30 and moved SL to BE.

Reason for trade: Aussie has been pushing lower, but not very aggressively, price broke the green TL to the downside, but failed to follow through, so to us its a failed BO, we took a long position just when price went back into the TL. Now that it has broken out of a wedge, we expect price to keep moving higher. As long as we stay above the minor support at 1.0345, we will still keep holding the long position.

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