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EUR/AUD: Time to take some coin off the table

By   || July 28, 2010 at 21:57 GMT
|| 3 comments || Add comment

My favourite currency pair over the last few months has again looked after me overnight with a nice 200 pip rally. I’m now looking for some short-term consolidation roughly between 1.4440/1.4600 so I’m booking partial profits and will see what happens for the remainder of this session. If we get a clean break above 1.4600 then I will try and re-buy this portion of my trade. The aforementioned stops in EUR/USD have me a little worried and as the old saying goes, nobody ever went broke booking profits.

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Category: All, Asia
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3 Responses to “EUR/AUD: Time to take some coin off the table”

  1. haniff ashburn on July 28th, 2010 23:12 GMT

    morning sean san

    i did not get that much on euro/aud like you did (about 80 pips),
    but i am still holding euro/nzd +185
    and gbp/nzd +485.

    month end is near so i will book all profits today.
    if the nzd keep falling i may reenter new positions.

  2. Sean Lee on July 28th, 2010 23:23 GMT

    Well done Haniff, you must be the first trader in the history of the universe to make money trading the NZD!! I know that it and the CAD definitley owe me big time lol

  3. haniff ashburn on July 28th, 2010 23:39 GMT

    thanks sean san
    same as you nzd still owes me lots of pips – most of the time got stoppped out for 60-80 pips and have accumulated big time since.
    unlike the gbp/yen the primary problem is the nzd always goes against the charts.
    so now my trade is contrarian with stamina, stop loss at 250 pips away and max trade 0.05.

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