Analysis

Friday, August 15, 2008

AudUSD CCI works fine in the start of the week


This week start with a nice bullish trend in the AUDUSD pair, I made my setup to wait till the pullback finish to join the trend, but the pullback go so long that I figured that the trend finished there.

The pullback start to form a new trend, to I had to make a new setup for this trend and get ready after the pullback, this time the pullback came in the time.

I joined the trend and went short on 0.8866 and exit in the Fibonacci 1.61 line on 0.8837, it's about 30 pips trade here.

The trend went more down till .08795, but I'm happy for what I got.