My call on EUR/AUD this afternoon on the hourly chart, was kind of partially correct, and would definitely have proved profitable if a trailing stop had came into place. A profit of approximately 80 pips could have been achieved instead of the targeted 100 pips, not too bad for a few hours of monitoring.
The next call for me would be a long on GBP/USD.
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Hourly Chart for GBP/USD
As we can see from the chart, there seems to be a countertrend coming up. Hence, I'm waiting for my indicators to affirm this before going long. Stochs and RSI are both at very low points and possible reversals may occur soon. A cross of MA(5) over MA(8) would surely be helpful and then I suppose it would then be a time to go long.
I'll probably be risking 5% of my capital which is 25usd in return for 40usd. Lot size would be 0.5 mini lot with a s/l of 50 pips and t/p of 80 pips. Price to enter is yet to be confirmed as I'm still waiting to catch a proper price at this moment.
Updates would come up later. Time for Bloomberg TV!
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