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11 November 2007

AUDUSD 5-11 Nov 2007

AUDUSD 5-11 Nov 2007

Here is how AUDUSD trade was developing this week:

Point
Description
1
Retrace (last 4 red bars) ends and price hesitates around alligator.
2
Up fractal is taken and move stops for 2 sessions. Still not clear where are we going.
3
AO signal taken. Move is up. Alligator opens. I've ignored Zone signals because of the steep move.
4
1st DBar appears. Stop loss moved below the low. Sell Stop order placed. Two bard later stop loss taken. DBar fired. A new DBar formed
5
2nd DBar is taken. Trade is against the trend. Strong down support in Momentum and Acceleration.
6
This is why I've added a Zone sell order - taken later.
7
Session failed to break down alligator's line so stop was tighten and later taken.
8
Down move stil valid so BL sell stop placed and moved below each bar's low. Taken.
9
Zone sell order
10
Zone sell order
11
End of week. Closing all the trades.

Total 572 pips

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