AUD/USD Signal Update - August 13, 2013

The level of 0.9133 was hit during the later part of yesterday’s New York session.

Day traders following my 15 minute candle entry strategy would not have entered a trade.

Traders who set a buy limit order for 0.9133 with a stop loss at 0.9083 will have an open trade showing a small profit at the time of writing. They should be prepared to take 75% of the position as profit at 0.9213, move the stop to break even and let the remainder run for greater profit.

The position as at the time of writing is shown below:

AUD/USD Signal Update Aug 13

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.