It was exactly 7 days ago where I spoke about AUD/USD pushing into daily resistance and being back in play for the forex day traders.
While crypto markets took up most of my day to day attention this week, I wanted to share an updated Aussie daily chart.
Take a look at the daily below:
As you know by now, my entire trading strategy is about trading around major daily support/resistance zones.
Yep, just like we have on the AUD/USD daily above.
We had been shorting off this same Aussie resistance zone and you can see there were 3 rejections before finally we see the bulls take control and push through it today.
With price above daily resistance, we now look to only play the pair from the long side.
My strategy will look for short term areas of resistance that when retested as support, can be used to buy off.
Quick piece of trading advice:
Whether you're trading forex or crypto, the price action between daily support/resistance zones doesn't mean a whole lot in the scheme of things.
Price will naturally bounce between them and do its thing, by all that really matters is when major zones are broken or hold.
Don't get bogged down in the noise.
Best of probabilities to you,
FOREX BROKR | LeoFinance Blog
Daily market analysis.
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