Stalking EURUSD and AUDNZD

The following two charts show some interesting areas of resistance. I’ve already shorted these pairs. This does not mean that anyone should do similar. Optimal entry positions are very time specific – ever swung at and missed a ball when playing tennis, or shuttlecock at badminton? It’s that sort of thing.

EURUSD has no one correct trendline. Having broken from the trendline shown (which I think is reasonable) and shot above, price has come into a zone of resistance.Screen Shot EURUSD 06-18-15 at 06.09 PM 001

The AUDNZD is even more interesting having bounced around and now has come up to a pretty strong area of resistance, as well as busting through a 2SD Bollinger band and almost touching a 3SD BB. The probability is that price on these both will fall. However, probability is just that – it can be wrong.Screen Shot AUDNZD 06-18-15 at 06.09 PM

I remind new traders that, getting it wrong 60-90% of the time is what this business is about. If it’s the first time you’re reading from this site, then ‘yes’ getting it wrong that much is exactly what I meant. Early results are below. I’ve set up trailing stops. Screen Shot 06-18-15 at 06.41 PM

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