I have not posted a trade sheet for a while — I have been keeping them in paper form. I think I prefer the electronic version however.

AUD/USD has broken out to the upside from a long-term trading range on reports that continued strength in the Australian economy may lead to further increases in interest rates. Technically breakouts have started working again after a period of not working while the market tracked sideways. The market has been going up recently on account of upside volatility — there have not been markedly more up than down days. A breakout from a long-term range is too good a signal not to trade.

I have put the stop around 1.5 ATR from the entry point in order to get it below the recent few days’ lows. Volatility is low but could pick up around the breakout.