Dohh... must learn to get time frames right....
'Kay... we are nearing the .803 level that I mentioned seeing the possibility of in the last post.
I have managed to squeeze a little out of thepair jsut now on a short, based on the five minute (forgot to check my figures and was thinking .801, almost a silly mistake there, though the Forex mareket is being kind to me lately... maybe recompense for the amount of coin ti has extracted from me in the past, lol.)
I am seeing weakness on the 5 minute at the moment and that was what I was taking advantage of.
Regarding the 803 level, basically this is the level of the 21ma on the daily, and price is approaching this level from the underside.
Don't mean it will stop there and it dont mean that it will reach it, however, if we are beginning a downtrend, this is a good level to go short...
(In my totally unhumble and aggressive viewpoint of course, LOL!)
Play it smart though peoples... as a strong trader mentioned to me recently... FOREX is like driving an F1 racing car...
If yer just learning how to drive... might be better to play on something more gentle.
;)
AUD
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