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Monday, August 17, 2009

AUDJPY idea


Long 2 lots @ 78

Stop just below suport @ 77.25

Plan is as follows: 1st target is the descending trendline, which will allow profit to be taken from a counter trend move. If succesful, the stop on the remaining 1 contract will be moved to 77.50 and left to run. This will wash the trade if it breaks down, and create a good long position if the risk appetite & carry-traders return.

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