January 2014

Last Week's EUR:AUD short achieved target on Monday although I didn't bank profits at the target due to other commitments but managed to get the trade closed later in the evening for a 176 point profit which is a pleasing result for the first 2014 trade and made more pleasing by the fact that price reversed direction from exactly my target print.

I've started the Year with a tough bout of man-flu which again has kept me from spending anything other than brief moments at the trading screen. As much as I strive to post trade entries live I just couldn't manage it on the blog for the current and only open trade although if you read my ADVFN forum I did manage a brief post there at the trade inception. The trade in question is a EUR:AUD swing short from resistance opened during the evening of 7th January from 1.5269. The initial target was the 1.5000 area marked by the previous swing high on the Daily chart which could become support for the current correction but since entering the moving averages have risen possibly suggesting price wont go as low as I initially hoped.