While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
We were stopped out of the Aussie for a 3 tick loss (- $120).
AUD/USD & EUR/AUD are both attempting OR days.
AUD/JPY? maintains above it's 200 DMA which is one more reason not to be short Aussie.
The currency crosses are all signaling Risk On for now.
Whether or not this is a one day event I prefer to be flat this instrument until I see how the world shakes out Sunday.
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For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.