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Daniel.B
Jan 14, 2015 9:19 PM

Another break out trading setting up for the future.  

Euro Fx/Australian DollarFXCM

Description

Well the chart explains itself, wrote some notes on it. S/R zones, with purple markers as pip differences measured between S/R areas. I'm short on a break and resest of the 61.8% Fib, and will look for a Long on a break and retest of 50% Fib (Which consequently if you look closely, the 200 EMA is sitting right on that resistance area, a break of that area and I will only look for long opportunities. Since price crossing back above the 200 EMA confirms a continuation of the bull trend) .

As always, use this analysis as a guideline if you may, to formulate your own trading plan on the pair. Cheers, happy trading =D
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