AU RBA Rate Decision Retracement Trade 10/31/11 (200+ pips)

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Update:

RBA decided to cut rates by 0.25% as expected but it was still a surprise to many traders. Using Henry’s double fibonacci method, we waited for a retracement and entered at 1.0510 level to SELL AUD/USD. Only a few minutes later, AUD/USD dropped, reaching our TP for a quick 30 pips of profit. However, Henry recommended to members in the trade room to close 50% at 30 pips and set SL to break-even, and letting the remainder half position run; which had a potential of up to an additional 200+ pips of profit.

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About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

Comments

  1. Michael Noren says:

    Watching this video makes the trade seem less intimidating. I’m more inspired to get a practice acct. It actually looks fun (once I understand better) Thanks

  2. Henry,
    Thanks for all of the emails and currency strength meter you have sent me.
    I will be using your trading room in the near future for trading but not at this time.
    Thanks again, I think you are a great human being for what you do to help others.
    John S
    PS your volume was so high that it distorted your voice and was hard to understand. Turn it down just a little. It is easy to over modulate. Hope this helps you.

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