October 22, 2014 - MDT - AUD/USD Alert

While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.

This is a protective Buy stop for the current short Aussie position.

This is closing position if elected.

 

BUY AUD/USD @ 88.25 Stop.

Futures traders use 87.85 Stop

 

I robotic ally take the first 70-80 point directional move to pay for my trade in the currencies. I neglected to do that yesterday, shame on me.

It's a perfect of example of always sticking to your trading discipline.

Aussie is in a 80 point area on the Point & Figure charts which says there is just no new direction here.

There is room on the daily maps for a move to 88.70 in the cash and still fail.

I'm not willing to give the Aussie a close over 89.20 from this area to see if I'm right.

I can always resell them if I get stopped out.?

 

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.