FX:AUDUSD   Australian Dollar / U.S. Dollar
127 2 3
Starting as always with the monthly chart, (the highest time frame in my order of charts for position trades), the monthly downtrend was broken with the close of trading in March. So going by the strategy rules the monthly trend has gone into consolidation.
Therefore we are allowed to buy and sell.

To determine the most appropriate action to take of the 3 possible options available (Buy, sell or do nothing), let's look at where price is currently

On the monthly chart price has arrived at a supply zone , an area where previously, selling overwhelmed buying. Definitely not a place to be initiating long positions.
This view is further reinforced by the fact that on the weekly chart as shown, price is also currently at a weekly supply zone .

So our decision is made - look to exit long positions if long from lower price levels . Secondly, we are now allowed to start looking for selling opportunities on the lower time frames in our chart order (remember, M-W-D is the order for this analysis)

Entries short will be on the daily chart if they arise.

Be careful what you think because your thoughts run your life..King Solomon
Akt . I have one question about your zone drawing method.
Hi conom, the link is not working.
shoot me an email of your picture and I'll take a look please.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out