Wednesday, October 24, 2012

Thoughts on #Aussie #Dollar

Thoughts on #Aussie #DollarSocialTwist Tell-a-Friend

Attached is a daily chart of ADZ2.

Yesterdays weak close triggered a sell signal in Aussie Dollar.  Stronger than expected economic data from Australia has made that a painful position at the moment.  We would now set 
our stops at 2 separate levels.  If ADZ2 trades above 103.00 we would stop out of half of position and if ADZ2 trades above 103.40 we would stop out of balance....

A side note is that we like to see a little time above the stop level before we pull the trigger in order to avoid an algo head fake where stop hunting programs attemp to flush weaker hands..                

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