FOREX AUD/USD 21st August 2008 part 3



AUD 18:14

AUD moved up from the 5-day 50% level, completed the R41 pip range, and now has reversed back down into support.

As long as the first exit strategy is around 41 pip completion, then any other positions can be run to your own trailing stops.

either breakeven entry ( no loss).

either dollar stop (no gain/ no loss).

Personally stopped on breakeven and won't trade again until tomorrow even though it's still above support, which could rise from another R41 pip low and move higher after 19:00