On this chart we can see a strong breakout of the trend line that has been in place since late January 2018 - moving the market sentiment into bullish territory. We can also see a re-test of this trend line on the 4 hour chart - this confirms the possibility for a long position.
The Australian Dollar has been boosted into a bullish bias as a result of hopes that China would be boosting its fiscal stimulus and rumours of a China-US trade deal - although these rumours were denied by a senior advisor close to Trump.
Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. Stick to your trading plan, no matter the market conditions.
If you stick by a smart trading plan you can substantially reduce your exposure to losses.
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Ladies and Gentlemen - We are shooting off, I hope you all have trades in place for this one. Don't be silly though, make use of good risk management i.e. Stop Loss
Trade active
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Forgot to update this yesterday, but my entry point was at 0.719
How could you buy with that chart where D1 candle has closed as Shooting star and See W1 chart where price is at strong resistance level. Follow this chart for accurate trading setup....
StirlingBishop
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@Forex_Winner, Personally I would not say that is an accurate trading setup. In your chart the price has broken the trend line that you have drawn 4 times - you can't just draw lines that fit your bias. I rely on both fundamental and technical analysis when I'm trading, and right now the fundamentals are showing a bullish sentiment.