Slow Day

I'm going to try and actually use and update this blog thingy now. It's been long enough since I opened it! It has started out as a slow day so far, everything seems stuck in a pretty tight range. I am testing/using a new trading strategy right now on 6 pairs but my main focus, and the 2 I will post on here, are the AUD/USD and EUR/USD. These two pairs just seem the most consistent in my experience.

The aussie made a double-top overnight at 0.920 which shows how little action there is at the moment because it didn't come down too far from that point. It has been ticking upwards this morning and I expect it will test that level again soon, if it breaks there should be good opportunity to get a little trade in.

The euro is in a similar situation. It has been dribbling down overnight and this morning at a really slow rate. It formed a double-top from Thursday's high (1.3653) and that would be the level I am looking at but with no news today I'm not sure if it will happen today.

(I'll be adding pictures to these posts if I can actually keep up the blog at all.)

Update 9:45

Possible short on the aussie @ 0.8992. If price breaks the S1 ( support 1 pivot line) then there is an oppoturnity for a small short trade to either S2 or S3. Price went down to S3 overnight so it might be trying to retest that level. If that breaks then it would turn out to be a pretty good trade. The pivot lines are tight today though so I would keep the stop loss tight and move it to break even as soon as possible.

Update 10:45

Took the short on AUD/USD and closed it out with +10 pips @ 10am. It hesitated a bit too much down there for me, so I just closed it out.