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=H2ap_-KFXJY If we’re going to sell this in the direction of the trend, we want it to go up a little bit, and that’s what it’s done yesterday and today. Found the low. It came back up towards the green zone, so it gives us an opportunity at least to go short with lower risk and higher potential reward. Well, at this point, my stop loss would be just above the green-shaded area. That way, if it gets above, I limit the impact to my trading account. So, all that, to me, points to going bearish and looking for the right opportunity to do so just around the 0.7500 to 0.7515-level, which is the entire green-shaded area. 0.7500 to 0.7515. Anywhere within there. So, I have yesterday of course added on the trade at 0.7500, the bottom of the green zone. If you didn’t do that, you could add it closer to the 0.7510-level, and that would get you a little bit better price than what I have. Actually this is an add-on position for me. My original position is all the way up here at the purple zone. When we broke under the purple zone, retested the 0.7585-level, I actually got in all the way up here in the middle of the black trend line. So, that was the original entry and you can see that going down here. I have one lot left on that entry from the purple zone. So, actually this trade for me is add-on position. But if you didn’t get into the purple zone and you’re not in it originally, this gives you an opportunity to do so. Take it down to the four-hour timeframe. And again, doesn’t really change it. We saw the market push under the purple zone. Settle out underneath it. That’s where we got in the original sell. It broke the yellow zone, settled out underneath it, where the black circle is, and then made a new low. And now we’ve broken the green zone. Now we’re looking for a resumption of that pattern where the breakout, resistance, congestion, breakout, resistance, congestion, breakout, resistance. Now we’re needing the market to start working its way back in our direction. If it doesn’t, like I said, the stop loss should be placed just above the green zone. That way you limit the impact if the market decides to do something different that it’s done through the rest of the trending pattern and go back up. We also have one last clue here. Forex Black Book is red. That also gives us a little bit of a bearish bias. We don’t have a new signal yet for the Forex Black Book, but I would anticipate the longer it stays here in the green zone and any bearish movement at all, may give us a new red or yellow sell arrow for the AUDUSD today. https://www.youtube.com/watch?v=H2ap_-KFXJY 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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