Complete AUDUSD Trading Plan (plus where I spent the weekend)
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:
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
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.
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?
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?
What do you think about the AUDUSD?
Do you take some time off of your trading once in a while? Where do you go?