I took a fade trade on the majors yesterday, dollar rising- worked out great but you got to remember and think - Is it time to sell again?
AUD/USD, Keep in mind it is a commodity currency pair.
Until it's not passed below the yellow small bullish channel we have going, the bulls are in control - Areas to keep an eye on are: 0.71800 /0.71900 then it could be an area to fade for quick scalp trade or whatever you have on your trade plan for further confirmation.
Until then, you could scale into the trade and little reminder - we have to wait for the right price action of direction.
For those who would like to go in depth: You could go into analysing and take a look at fundamental aspects as well as comparing the pair to being part of basket of currency commodity pairs.
Remember: Just an idea, not a recommendation.
Have a great week ahead.
AUD/USD, Keep in mind it is a commodity currency pair.
Until it's not passed below the yellow small bullish channel we have going, the bulls are in control - Areas to keep an eye on are: 0.71800 /0.71900 then it could be an area to fade for quick scalp trade or whatever you have on your trade plan for further confirmation.
Until then, you could scale into the trade and little reminder - we have to wait for the right price action of direction.
For those who would like to go in depth: You could go into analysing and take a look at fundamental aspects as well as comparing the pair to being part of basket of currency commodity pairs.
Remember: Just an idea, not a recommendation.
Have a great week ahead.