AUDUSD 30.04.2013 Trade Result

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Below is the result of the hourly trade which happened today.

audusd 30.04.2013 h1a

In my earlier post on the outlook of AUDUSD this morning, I said that :

Showcard candles would have to show at the current level for reversal and target at 1.0327 or if the price close strongly above 1.0369, the next resistance would be 1.0405.

Well the showcandle did emerge and a trade would have been made by anyone monitoring it at around the 1.0350 area. As you can see from the diagram above, price was not able to break the 1.0369 resistance and came down straight to the support of 1.0327 and bounce off exactly at the support. A small profit of 23 pips would have been made.

For those who miss this AUDUSD trade, do not worry as I do not think this trade is over yet. The daily chart has not shown any reaction yet. If it does, that is when we make serious pips. Box trading rocks.