Earlier this morning the AUDUSD was trading just at an important long term support level, it created a little range in the short term charts, but now it is trading above that range. Please take a look at the next chart:
Now that the market is trading above the short term range, it has a clear path to the next long term resistance level.
My Trading Plan:
As long as the market keeps trading above 0.8263, I will look for long trading opportunities. The next resistance level is around 0.8453.
I will ignore all short trading opportunities.
I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .