See daily chart of AUDUSD below for the discussion that follows.
AUDUSD broke through resistance this past week. I’ll be looking to go long in this area of support (prior resistance) if we get a retrace. For me to consider buying, I will first have to see bullish price action / candlesticks (confirmation) 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.