See daily chart of EURAUD below for the discussion that follows.
EURAUD has 2 well defined boundaries which I will be looking to trade from. This might not happen soon, but I’ve drawn my support and resistance zones drawn, so once price gets there, I will look closer for signs of a reversal.
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.