Screen Shot 2015-08-04 at 08.17.33

Hello traders welcome back to a new trading day. Well we have a full day of data today in all three sessions and must be alert to this. The charts are looking good and most staying with the trend again the entry could be tricky. I think we can have a good trading day today…..OK so let us take a look at the trade plan for today. We will Look at the AUDUSD- This is the 30 minute chart.This is the 30 minute chart.This pair continues to be bearish as it is now approaching resistance. I am looking for a Fibonacci pullback to the 50% level also the daily pivot is in the same area. We would like to enter this with a bearish candle at price level 0.7288. There are two take profit levels the first being the support line as marked on the chart at 0.7263. The second take profit is the S1 at price level 0.7246 Data has come out and we are now in the perfect spot for our planed entry.

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.