FX:AUDUSD   Australian Dollar / U.S. Dollar
838 5
AUDUSD is currently fighting between the BULLISH and BEARRISH MOVEMENT, i know everybody is expecting a BEARRISH MOVEMENT, BUT!!!!!! I most be honest it is pretty early to say if its bullish or bearrish because the market is currently playing inside of the BULLISH trendline and also inside of the BEARRISH trendline!
I know that when we take a look at the price action we can see a DOUBLE TOP , but when we take a look at the MONTHLY CHART, we can see that the market is trying HARD to break the MONTHLY RESISTANCE ABOVE (SELL AREA).
I will keep this chart updated to be sure to let you know my position on this trade, but for now I'm going to be waiting for a BEARRISH or BULLISH breakout =) Remember that the patience in the trading world is the key to success =)
If you like my CHARTS ANALYSIS, make sure to hit the LIKE and FOLLOW button =) Thanks guys!
You are 100% right "patience in the trading world is the key to success"!
+1 Reply
mnwind jolicoeur342
How long have you been trading? How long did it take for you to become a consistently profitable trader? Thank you!
+2 Reply
The number of time doesnt really matter, the day you understand that you shouldnt trade for money but to be right in your chart ideas, this is when you will begin to actually earn money from the market! I have only been trading for 4 months and a half.. But for some people it takes longer to understand that! The difference between me and somebody that isnt successful... Is that he doesnt truly believe he can be right... I do! I went all in in the forex industry and this is why im successful!
alan_watch jolicoeur342
great outlook on trading! however, I think you've been studying forex more than 4 months and a half; meaning you've been studying forex for more than 4 months ~
BTW -> I do think downside might be limited despite most of the top traders being bearish on NZD and AUD pairs... however, if DXY keeps its bullish move and interest rate keeps getting cut; I think we won't see current level for at least 2 months
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