Forex Trading - Forex Update: Looking to Buy AUDUSD on Dips to Support



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=lc-RbPCwBkM So, if a similar price action happens and we see eventually a continued rise here for this pair from the yellow zone, we want to look to take advantage of that. So, if we’re looking to buy, we’re buying on a dip into the yellow-shaded area, just like you would’ve done back here at the black box. Then of course the next thing we’re going to look for is the break of the purple zone, 0.7600, and a continuation higher. We don’t want to buy it too close to that purple zone because we know it can be resistance. We’ve already seen that yesterday, so don’t buy too close to the purple zone, but on a dip to the yellow zone provides us with lower risk and a duplication basically of the pattern that we see over here on the left. Let’s take it down to the four-hour timeframe. Now, we already have seen it. Let me zoom out one time. A couple of times, so we could see both of them here. We already have seen the market come back down and challenge back down towards the yellow-shaded area. Got very close to it. And if you look back at the black box, it came down. Multiple four-hour candles. These are not just one four-hour candles. Multiple four-hour candles inside the black box that came down to the yellow-shaded area. So, that’s what I’m hoping to see. Another challenge back down here towards the 0.7555 or so, into the 0.7550s. An opportunity to go long. Target the purple zone. And of course above the purple zone, we look for the continuation. And the risk all in that is that it breaks back under the yellow-shaded area and we look for the 0.7540 and we look for this to go back down and challenge the green zone or lower. One interesting part about this is the trend line that we have here. The red trend line. We are capping out at that. So, if we’re going to see it go higher, it will need to break that red trend line and the purple-shaded area. And again, it’s very similar to what happened back here. You could see we had somewhat of a red trend line over here on the left again and that was a similar situation. So, we see the same pattern setup that we see over here on the left over here on the right. If we’re going to go higher, we need it to bounce off the yellow zone, break the purple zone, and go higher. Otherwise, the risk in this scenario in this setup is that it breaks back under the yellow zone for the AUDUSD today. https://www.youtube.com/watch?v=lc-RbPCwBkM 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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