EUR/AUD rises but not quite enough. What to do?
Posted on July 14, 2008 at 17:35 in Trade Idea Result by Rob Booker2 Comments »

The EUR/AUD trade (see the previous post and the original trade idea here) did work out nicely until we got close to our green Baseline.  The pair then was rejected early (kind of like me in high school).

Here is the chart:

07142008_euraud

Now, what would we do here?  It’s my opinion that there are two acceptable ways to deal with this trade:

1.  Leave the trade open and either close it at the trendline (profit) or get stopped out.

2.  Move the stop to break even when the pair has gone 75% of the distance to the trendline. 

It’s up to you what you do.  I am a fan of moving the stop to break even at some point — and that point is going to be different for everyone, depending on your testing.

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EUR/AUD Jumps up. And Up.
Posted on July 11, 2008 at 15:43 in Trade Idea Result by Rob Booker2 Comments »

Our EUR/AUD trade is doing well.

Click here to see the original trade idea.

And here is the update — as you can see, the pair has broken above our short term blue trendline and is making its way up!

07112008_euraud

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EUR/AUD buy trade idea. No funny headline. No laughing. This is serious.
Posted on July 10, 2008 at 17:50 in New Trade Idea by Rob Booker3 Comments »

Here is an idea to buy the EUR/AUD instead of sell it.  Here is a 1 hour chart with the green baseline:

07102008_euraud_3

And here is the 15 minute chart, with the blue EntryLine.  If the pair can close above the blue line, that’s a buy trade for me, and the green Baseline is the target.

07102008_euraud_4

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EUR/AUD Setup. By request.
Posted on July 10, 2008 at 17:43 in New Trade Idea by Rob Booker1 Comment »

Here’s a green baseline on the EUR/AUD.  This is the one hour chart.

07102008_euraud

And here is the 15 minute chart with the blue EntryLine:

07102008_euraud_2

As usual, we are waiting for a close below the blue line to trade to the green line. 

I will update you again, with a buy trade idea, on this pair, in the next hour.

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