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im picking it will fall one last down wave, maybe around 79.40 and go to 78.90 then will try a long.
watch out as there will be possibly a reaction at 1.30 pm as there is a news release from RBA
the long will be high risk trade so i wouldnt recommend it unless your quite experienced.
safer to wait for a short entry from higher up.
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you were right about the downwave i got hit a lil but just lost a couple of bucks as had a real small postion as always,
will wait till after 1.30, thanks for the help,
bio
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there you go bio the kiwi following the script, hopefully that helped to make a few pips,
now i think price will bounce from here at 78.80 ish,but not for the faint hearted.
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Goldman Sachs had a shocker of a result.
Risk aversion looks to be back.
Would short the Kiwi but am going for the EUR @ 1.3673 only aiming for 1.3600
see what happens when I wake up....
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120+ 100+ on kiwi longs , 160+ aud long ,100+ eur .
kiwi hit and reversed on 80 , have taken another 50+ off the short from 80
its a very volatile market will look for more short entries after dust settles.
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Volatile is an understatement.
Germany and France agree to boost the rescue fund and not long after that, Moody's downgrades Spain's government bond ratings to A1 with a negative outlook.
Think I’ll sit on the sideline for a bit.
DA, can I ask what trading platform you use?
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Hi pumice I use saxobank there ok spreads are acceptable and no transaction fees.they have a good mobile platform for iPad iPhone so i can manage trades anywhere
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Cheers DA
I use Oanda, they seem ok, but thier mobile platform (on android) is a bit buggy.
See any trade setups?
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hi pumice, big event risk this weekend so i think we are unlikely to see a range breakout until the meeting is
done. i favour scalping the kiwi from the long side playing the range 78.80 - 80.20, but just intra day trades.
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if anyone has followed this trade I would take profit at 79.90
I have 100 +pips with two trades but it's not the market to be too greedy