AUD/USD: Opportunity for going short
During this week the following 2 opportunities came across,
the EUR/GBP and the AUD/USD. They remain interesting for going
short and are still high in the Rating & Ranking list. See list
included in the article.
Profit has been taken yesterday on an AUD/USD short and a new position has been opened today. However, the pair is having a strong pull back at the time of writing and this offers opportunities for opening another short position at a higher level. The profit targets for both pairs are above the temporary lows of the last weeks and initially set to 1/2 Weekly ATR.
Forex ranking and rating
Wk 46 Tue. / 11-11-2014
Analysis
based on TA charts for all the major currency pairs. Good luck to all.
No advice, just info. Visit FxTaTrader.com
for
more info and Disclaimer. Every week the Forex
ranking rating list will be prepared in the weekend. All the
relevant Time Frames will be analyzed and the ATR and Pip value will be
set.
There will be 2 updates during the week on
Tuesday and Wednesday. The Daily and 4 Hour chart will then be analyzed
and updated.
This makes that there will be no more than 48 trading hours between
each update. This is a reasonable period when considering that the
smallest time
frame used is the 4 hours, meaning 12 price bars/candlesticks.
The Forex ranking and rating list is meaningful data for my FxTaTrader Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy.
Although the explanation may seem simple and clear there is always risk involved. I added a disclaimer to my blog for this purpose. If you like to use this article then mention the source by providing the URL FxTaTrader.com or the direct link to this article. Good luck in the coming week.
