Caution in the markets

I have been rather cautious with my trading as the markets seem extremely volatile whipsawing as uncertainty seems to take grip. As a result, I have been extremely selective in my trading and hence the rather less frequent updates on the website. However, on Friday, I did make a trade on the AUD/USD forex chart.

I traded this as I saw negative divergence on in the 4 hour chart on the stochastics as the market had hit a second high at around 0.9630. The stochastics also crossed and my trend signal turned red indicating a sell.

Nothing really much happened for a long time and then the market moved this Monday dropping… I closed out for +50 but the market reached a bottom of 0.9615 which would have make me an additional 50+ for a total of over +100…

Make Me Some Money - 7th July AUDUSD

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Category: Forex trading, Make Me Some Money Ideas, Spreadbetting, Trading