AU RBA Rate Spike Trade 10/02/12 (40+ pips)

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Update:

RBA surprised the market by cutting rates by 0.25%, we entered on a sell AUD/NZD immediately after the release at around 1.2459 level. Few minutes later, Henry closed half of the position at 1.2443 and moved SL to to the entry price. AUD/NZD eventually dropped further below our TP level at 1.2420, yielding a combined total of about 28 pips of profit, with a potential of 40+ pips depending on entry price.

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About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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