I’m not a great believe in the use of trailing stops (for the simple reason that they usually get triggered!) but I’ve been trying to build a long AUD/USD position for some weeks now and I feel that if we can’t break above .9350 in the next few sessions then it’s probably going to struggle to do so any-time soon. I’ve got trailing stops now below .9215 and below .9110 so even if it does collapse from here, at least it won’t cost me anything.
