Trade Review: AUD/USD

Well, I made a major error with last nights pick… I admit it. I went with the fundamentals and ignored technical analysis. I saw a pullback in commodities and a short term rise in the strength of the dollar and went against the trend. I thought there would be a correction and I was wrong. It was a gamble and I paid for it in the form of 70 pips. Goes to show you, the trend is your friend….until it stabs you in the back and takes your money.

Lot 1: -35 pips

Lot 2: -35 pips

Total: -70 pips