AUDUSD TRADING PSYCHOLOGY_ I'M BULLISH!
As you see the latest support zone found a new level of support around 70000 and failed to break it on daily chart , on the other hand The price went up for a key area zone which is Very important for AUDUSD , because we have no important news on fundamental economic calendar for aud and the market is on a bullish move for a while, we can expect the market to continue its uptrend and break the middle resistant area and retest for an uptrend continuation, so, we wait til the market complete it's upside down head and shoulders pattern and break the neckline, then we place our buy order with risk reward of 1:6 .
🤔Plan B:
Its very far, and i think its quite impossible for AUDUSD To change bearish bias or a downtrend movement, but if plan A failed for any unusual reason you can use second plan to recover your loss, but your risk reward may be 1:4 ( because you hit stoploss on plan A)
Use proper Risk management, wish you a good week everyone 🌹
🤔Plan B:
Its very far, and i think its quite impossible for AUDUSD To change bearish bias or a downtrend movement, but if plan A failed for any unusual reason you can use second plan to recover your loss, but your risk reward may be 1:4 ( because you hit stoploss on plan A)
Use proper Risk management, wish you a good week everyone 🌹