Overall it's a bullish trend. Recent reports may seem to favor strength in the USD. This S/R area has proven to somewhat strong.. There's data all the way back to 2014 although I don't think it's necessary. Most recently, S/R has given way to bears but very briefly. I may look to open a position given the bullish sentiment. Only issue is if I look left, we can...
AUD has been weak so far this year. Poor economic results overall shows a pretty bearish sentiment against AUD. However, it seems buyers have started getting active as I see the downtrend starting to lose momentum. It could just be a retracement and if that's the case, an opportunity to catch the downtrend movement. The current support area of 81.88 was set from...
I originally setup my chart using the daily time frame and added support resistance based on the daily time frame (outlined in blue). Because of the irregular growth and downfall also known as tulip mania, the daily time frame offers very little information other than we've been in a long correction and might drop to 0 if you believe analysts. Will it go back up...
2 options. Wait for the daily close on the current candle to see if price will stall which could indicate a reversal. Or look at 6H chart and open a short position. At this point. It's an instinctive decision. Opening a position based on an open candle is always risky because I can't know what's going to happen during the span of the day. However if I do decide...
My trade is already open so it's more of less of an analysis but more a log. Daily chart shows there's some consolidation on the support area around 6875. If we look closer at the 4H chart, it looks like there could be a bullish reversal. Although the overall trend is still down, this could be an opportunity. Opened the trade around 6850 and looking to exit...