AUDUSD- Broke 3 year high resistance point!
AUDUSDGood day my friends~
A brief introduction regarding my analysis...
1) Price Action is KING- I'm a sole believer in price action, you will see me incorporating price action theory into my analysis.
2) Simplicity is key - I love to keep my charts neat and tidy! The more indicators you have on your chart, the more complicated your chart is thus, affecting your bias of that market. Let me introduce you to my 3 great trading friends... THE 20, 50 & 100 MA!!!
3) The mind! - My analysis may not always be right, nobody is, it's just my opinion and point of view. There's no right or wrong in any market analysis, the only thing is belief. Believe in me and my analysis, let the result be the light to the dark cloud hovering your thoughts about trading.
4) Please feel free to comment and feedback to me about my analysis & on your views about the market. Through sharing, we grow together as a trader or even better as friends!
-AUDUSD has been very bullish ever since the start of December 2017.
-Price broke out of the 0.80242 3-year high resistance point and rallied higher.
-Price is above all 3 indicators = strong uptrend & BULL momentum.
-Forecast that it will be moving towards the next major resistance @ 0.81736.
-Looking at the H4 chart you will see some price rejection as represented by the arrow, the price may enter into consolidation, we shall see how it goes when the market opens.
- GO LONG, my friends!
To a good trading week ahead all!
Regards,
Kayden
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