FX:AUDUSD   Australian Dollar / U.S. Dollar
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Let me know what you think!
Hello, could you tell us on what your analysis is based ?
Thanks for the comment, my analysis is really just looking at the trend and following it. I like to draw support and resistance lines on most time frames for example monthly, weekly, daily,4H, H, and sometimes 30Min. I've learned that indicators are lag and don't help. I'm still learning keeping it simple and clean. If it doesn't follow through I get out the trade incorporating some risk management. Let me know what you think!
I think you're right about keeping it simple and clean but sometimes the trends don't give us clear signals or in another word, your way of analysis is pretty good for long term trades
Right ? you don't trade on H1 and even H4 charts hunting from 50 to 120 pips ?
+1 Reply
True on not giving clear signals sometimes but that is were risk management kicks in, but I guess you can say I trade long term I like holding throughout the week but with a good sense of exit and entry of course it all depends.
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