See daily chart of AUDUSD below for the discussion that follows.
Last week I looked at AUDUSD as a possible short…it did show some signs that it wanted to reverse from the resistance level, but I never got confirmation to enter.
Resistance was broken this past week….so now I’m looking to go long at support (previous resistance), that is if I get confirmation in terms of price action / candlesticks as per my strategy.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.