trading systems for audusd, page-10

eMark,

My positions aren't big, and I'm manually moving my (wide) stops. My experience last year particularly found that smaller timframe trading was a quickfire way for me to blow my account.

If you do trade short tfs, be careful of the market times you do it in. I.E. between ~4:30-6 PM EST, European traders get to their desks whilst the Asian traders are close to finishing their day. This causes significant retracements against the general Australian day trend direction, particularly for gold, AUDUSD and AUDJPY.

Less so with the opening of the US session, as Europe is still underway.

To your actual question, I think this was a correction that was overdue and good to shake out. 0.86 this week for me is a genuine reality, and I wouldn't be surprised if AUDUSD pushes back above 0.91 in the next month.

Be mindful, the US summer is fast approaching where volumes can dry up and fewer big orders can really move markets.

So, the two big gaps are between the US close and Asian open, and the Asian close and Europe open.