Finally found time to have a quick run through my charts looking for something interesting but have been met with disappointment. There just doesn't appear to be any tempting low risk / high probability setups presenting themselves right now.So, I'm going to focus on one to watch for the future.AUD:JPY is trading a choppy up trend on the weekly chart, having twice been rejected from the 2007 high - 2009 low 61.8% fib retracement level.
Hello and welcome to my venture into blogging about trading Indices and FX Markets!
Having been a Bulletin Board Thread owner and main contributor (20,000 posts) for the last couple of years on a hugely successful forum, I've often considered entering the blogosphere and going it...
Swing short entry taken at 126.50 based on daily channel resistance and 4 hourly fib retracement level.Daily support beckons just slightly below the current price level, however it's been somewhat abused recently and I don't expect it to hold.A retest of the March 16th 2011 "Tsunami" Low would make for an ideal target