Currency market: AUD vs EM trade results
|As written Sunday, not only was AUD oversold to the universe in the AUD space but AUD/EM was at Richter scale oversold. We clocked 2353 pips in 8 trades yet due to severe oversold, the trades as mentioned were quite easy and profitable.
AUDUSD and all AUD pairs traveled higher to include AUD/JPY, AUD/CHF, AUD/CAD, and sleepy AUD/NZD. Remember these words, AUD/CAD shorts were impossible. brought to you by the same short AUD/NZD last week. Incompetence knows no bounds these days.
When trading melded into the entry and target = profits, the world of trading died a horrible death and its doubtful for its resurrection. Traders are locked into methods that no longer exist, no longer work as markets radically changed. Strategies must adjust to the new market arrangements or continued trouble will exist.
The world was short AUD for RBA and targeted levels mathematically impossible to achieve. Obviously short was wrong.
AUD/DKK
Long Anywhere or 4.6006 to target 4.6414.
Result Low 4.5937, Highs 4.6388.
From 4.6006 +382 Pips.
AUD/CNY
Long 4.7404 and 4.7355 to target 4.7753.
Result Lows 4.7371, highs 4.7888.
From 4.7404 +349 pips.
AUD/BRL
AUD/BRL Close 3.8272.
Long 3.7953 and 3.7803 to target 3.8554.
Result Lows 3.7668, Highs 3.8420.
From 3.7803 +617 pips.
AUD/HRK
Long Anywhere or 4.6408 to target 4.6856.
Result Lows 4.6325, Highs 4.6800.
From 4.6406 + 394 pips.
AUD/MYR
Long Anywhere or 3.0967 to target 3.1133.
Result Lows 3.0933, highs 3.1288.
From 3.0967 to 3.1133 + 166 pips.
AUD/PLN
Long Anywhere or 2.8266 to target 2.8558.
Result 2.8176, highs 2.8440.
From 2.8266 + 174 pips.
AUD/RON
Long 3.0457 to target 3.0716.
Result Lows 3.0357, highs 3.0668.
From 3.0457 +211 pips.
AUD/RUB
Long Anywhere or 53.53 and 53.46 to target 55.12.
Result Lows 53.51, highs 54.11 +60 pips.
8 trades, 2 days, +2353 pips.
Open trades: AUD/HUF, AUD/ZAR, both running profits.
No stops, no charts, no Fibs, no monetary policy mumbo jumbo. No playing around.
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