GBPAUD short and long term analysis
I’ve always been trying to tell you, it doesn’t matter what you trade, just make sure you are trading the right currency pair.
Some traders only focus on a few pairs, some even only trade the EURUSD… big mistake, because sometimes the EURUSD is not tradable (aka not clear market condition). So be careful alright?
This is the type of analysis that I like to do before deciding to trade any pair…
Last week I did analyze the GBPAUD, it was just being rejected from an important support level. Now we are certain that the market was rejected from that level:
So based on the long term charts, it’s clear what we should be looking for long opportunities. Right?
Ok, now, let’s take a look at the short term charts:
Ok, so now it looks like on the short term charts we also have clear support and resistance levels.
So it’s good enough to look for long opportunities (which is what I’m currently looking for).
Comment below if you have any question, suggestion, feedback…