Forex Trading - Forex Update: Get the Week Started with a USD Pair Overview



To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_trading&ad=3ag_tc1VLTE If we even take it down to the four-hour timeframe, we’ve already seen it actually open and close on the four-hour. So, again, if you’re going to trade it, I think selling or going short, you’re under the green zone. You want to get as close as possible to 0.7500. Maybe even 0.7510 giving you a better lower risk, higher reward opportunity to go short again. If you’re looking to go long, this is not the time to do it. It has to give you evidence of reversal, probably back above the green zone before you would go long on the AUDUSD. Moving over to the NZDUSD. It’s a very similar situation to the AUDUSD, except for the fact that the moving average is nowhere near the current market. But we’ve been selling this currency pair for days and weeks now. Three weeks at least we’ve been selling this currency pair. It’s been a very profitable player. We’re out of all the open positions that we were in, in the previous couple of weeks, but I’ve already today – this is fresh today – jumped in at 0.6940. I put a pending order right underneath the yellow zone. Let’s zoom it in. So, we see it open under the yellow zone, rally back into 0.6940, 0.6950, the yellow zone. Look at back here. Let me just take this blue box and put it down here at the bottom. Right here, where the blue box is, left-hand side, red trend line, we could see a lot of resistance at the yellow zone. Three days found resistance to the yellow zone. Went back to the green zone before breaking out and going back higher. So, we’re in a downtrend. That’s the direction I want to focus in on still. Underneath the yellow zone, we’d look for the market to continue down. Where? To the green zone. That’s not too hard to see. You look back here to the left. And if it can break the green zone, we could be even looking for much further back down into the 0.6800s, so we definitely want to see that. And it’s fairly minimal risk. Take it down to the four-hour timeframe. I mean your risk is pretty small. If you sell underneath the yellow zone, which is that last support by the way, and it breaks above the yellow zone, that’s the risk on the trade. So, your stop loss is not too high above there because you know that if it gets above there, probably going all the way back at least to the pink-shaded area. Minimal risk. Potential target down here towards 0.6900, or even into the 0.6800s for the NZDUSD today. https://www.youtube.com/watch?v=3ag_tc1VLTE Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.

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  1. Great video.


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