28 Feb
Aussie USD trade 27th Feb 2009. 15 min chart, potential 60 pips profit
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Today was a brilliant London open, there were trades galore. This aussie dollar was a beauty, I have placed horizontal lines and a vertical line to mark my entry and take profit level. My stoploss was behind the thick red line.
As you can see the red ma had dropped below the thick blue ma signaling a downward trend, i needed a retracement and all the indicators to start moving down to signal my entry. Wait for the candles to change from green to red ,the stocastics are the key to avoiding false signals and getting in too early.
I Learned how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com. They have a live chat room and share their charts so that you can watch them find potential trades in real time.
Learn to trade long term charts using the www.fxmonkeyschool.com.
