To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=trading_forex&ad=5vr33FxaVc0 So, the probability tells us that there’s a good chance that we’re going to find at least some intraday resistance. Yesterday we did. We found some intraday resistance into this level. Let’s go and zoom it in a little bit here on the daily. Let’s go in a couple of times. You could see yesterday. Actually if we go back four days, finding resistance into this green zone. We’re tapping a little bit into it today, but definitely finding resistance into this green-shaded area, as you would expect as the history tells us. So, what I’m going to do is go ahead and take a short here into this level. 0.7735 is my order that I’m taking here for the AUDUSD today. We have minimal risk. The risk is of course it breaks above this green zone. So, what I’m actually going to do is place a stop loss that will be just above the green zone. That way, if it breaks above it, we don’t have too much risk. We don’t stand losing a lot of money if it breaks finally above that level. If it doesn’t and finds its resistance, we’ll look at, first, to target the blue-shaded area. We know that that has some historical support there in that area. Beyond there, we could look to target the orange zone or even lower down to the purple zone. But the first example here that we’re looking at is looking to go short here on the AUDUSD into the green-shaded area, targeting the blue or the orange zone on the way down. Let’s take one last look at the four-hour timeframe. And as we get down here to the four-hour timeframe, we are seeing a little bit of a bullish move as it pushes back into the green-shaded area. But as long as it stays underneath 0.7745, I still think that this is a viable low-risk, high-reward opportunity. Again, it’s not too hard to see here on the four-hour timeframe that the blue zone would be your first target. You could see what happened the last time we bounced off of this level right here. We came down to the blue zone. And then, beyond there, we’ll go to the orange zone if it breaks through there. And even down to the purple-shaded area down here towards the middle bottom of the chart. https://www.youtube.com/watch?v=5vr33FxaVc0 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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