Complete AUDUSD Trading Plan (plus where I spent the weekend)

AUDUSD

It’s almost half of the year, and a good time to review our trades and performance on the first 6 months of our trading…

So how is your trading so far this year? Has it been different from your performance in the last few years?

Because the market has changed, that’s for sure. This is the reason why now I try to profit from both, short and long term swings… You never know.

Let me know in the comment section.

AUDUSD Long term Analysis

Here is the weekly chart:

AUDUSD Long Term Analysis

This is why I’ve been trading the AUDUSD a lot in the last year, clear swing highs/lows and clear support and resistance levels.

This is my top priority when looking for currency pairs to trade, this way I know what the market is likely to do in the following hours/days.

The thing is that right now, the AUDUSD is trading at an important level, I don’t know yet whether the market is going to get rejected from that level, or breakthrough the support level.

I’m no magician… But, what we can do is go to the shorter time frames to define our trading plan.

AUDUSD short term analysis

AUDUSD Short Term Analysis

Right now, the AUDUSD is trading in The SF Box. This mean that we need to see a breakout of either side of the range before we can start looking for trade opportunities.

You see, we dont have to be magicians, we just need o be patient and wait for the market to confirm the breakout and just trade in the same direction.

That’s it!

I’m not trading the short term range since it doesn’t have clear short term support and resistance levels.

Where I spent the weekend

I was going to tell you but… why don’t you take a guess?

mexcar

Where did I spend the weekend at?

I don’t know about you, but every time I get out of town and forget about the market for a few days, I come back reloaded, with clearer ideas about what the market is likely to do…

Does t happen to you also?

Your Turn

What do you think about the AUDUSD?

Do you take some time off of your trading once in a while? Where do you go?

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Raul Lopez

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 .

  • richard

    Thanks Raul for the heads up for the AUD/USD. I have not used weekly charts however will from now on. I will watch Aud/Euro and Aud /Cad and AUD/CHF also.
    New Zealand is my playground – one special place is Okarito, West coast South Island – kayaking zone.

    • Raul Lopez

      Hello Richard,

      Sometimes its good to use the weekly chart to define the market condition. Once in a while I used them to have a clearer picture of the trend… I still trade off the 15m, 30m, and 1H charts though…

      I just googled Okarito and it looks amazing, just the right place to get relaxed! Cheers for that Richard!

  • gerald

    nice beach Raul , where is this place, somewhere along the mediterranean?

    • Raul Lopez

      Hey Gerald,

      That’s Playa del Carmen, México. It’s a beach called “Playa Mamitas”, it’s wonderful!

      Cheers

  • Himanshu Dutta

    Yes, I like the idea and your weekend pic looks heaven ! i loved the pic !

    • Raul Lopez

      Great!

      It is… it really is! Very relaxing…

      Cheers Himanshu!

      • Himanshu Dutta

        Please let me know the name of the place Sir Raul Lopez !

        • Raul Lopez
          • Himanshu Dutta

            am glad you shared the place, this time i like the place more than your plan, hehehe, cheers

          • Raul Lopez

            hehehe I know… me too. Cheers Himanshu!

          • Himanshu Dutta

            But one day , I shall come spain , awesome place it is ! and meet you too !!

          • Raul Lopez

            Thx Himanshu… That’s Mexico though :)

          • Himanshu Dutta

            but I shall see whole spain, i have learnt some places to be very unique as i have seen a movie where all of the spain was captured, and the views were so catchy , so natural !

  • Eviano

    Well I have been waiting for AUDUSD tO breakout since friday last week. But one need to be careful. However I got some disappointment from the EURAUD. I was waiting for the long trend to continue which made me to leave the trade I entered last week Thursday to continue, but it has revers back to where I bought it and into negative. Although I see it as part of business.

    • Raul Lopez

      Yeah, you are right… we need to be careful here, we need to make sure the AUDUSD is out of that range before looking for any trade opportunity. However I dont favor a breakout or a rejection of that level… I wil adapt to what ever happens…

      About the EURAUD… that’s the reason you need to take advantage of both, short term and long term swings… I still think the EURAUD has plenty of upside room…

      Good luck Eviano, thanks for your comments!

      • Eviano

        Raul, please, look at the NZDUSD carefully. In the weekly chart, It show down trend. I am just for LOPS in the daily chart.

        • Raul Lopez

          Hey Eviano,

          For sure it looks bearish in the weekly chart… But I dont like the way its been trading lately, specially on the daily chart…

          I’m currently not monitoring any NZD cross… I dont feel comfortable with them at the moment…