Partner Center Find a Broker

Here’s an update on my AUD/USD short trade idea earlier this week!

As I mentioned in my Twitter update, I decided to make some adjustments on my open AUD/USD trade before the FOMC announces its monetary policy decision. After all, I didn’t want to risk losing most of my recent profits in case the Fed backs out of its plan to keep tapering asset purchases.

audusd

I was able to short around the .8775 area a couple of days ago then I decided to close half yesterday around .8750. I moved my stop to entry on my remaining position that’s still open until now. That means I’ve locked in a small gain on the first half of my trade and I’m looking at a risk-free trade moving forward!

I’m keeping my eyes locked on the previous lows around the .8675 area, as I plan to adjust my stop lower once price tests that level. Are there any other adjustments you think I should make?

Cheers,

Happy time

Other Popular Articles:

What is the STA strategy? Q2 2013 in Review Comdoll Trading Kit USD/CAD Trade

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.