AUD/USD: Loss booked on long trade
My attempt at picking a short-term base in the AUD/USD was ill-conceived and I took a 73 pip loss on the position on Friday night. The move lower in the AUD on the crosses has been very strong and when this is happening, it’s pointless trying to fight it. I took the loss and will live to fight another day.
I will revert to concentrating on my long GBP trades against the EUR and the USD.