AshFX System Daily Update, 12 Aug 09.
The downtrend on ALL of the sell signals taken yesterday continued, racking up mega-pips for those who entered. As of writing, a strong retrace is forming on all the pairs, there are quite a few news reports out today and we want to be on the safe side. So I have advised to close 1/3 of all trades, thereby banking some of your profits, and then move your Stop Loss to the high of yesterdays candles. More info at the Forex Magnates/Moments forum…
Also, today there seems another AshFX V2 trade forming, specifically on the EUR/AUD. If you look at the Daily chart you’ll see a strong down trend for the past month, so this new buy signal on AshFXV2 might seem rather spontaneous or unexpected.
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However, if we analyse the EUR/AUD on a Monthly chart, we’ll see the reason why: