Thoughts on #Aussie #Dollar
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..
