2018 is just around the corner. Success seem near but yet so far. I have yet to taste the fruits of my labour. Could 2018 be it? I have taken up Ben’s challenge to post live trades on a weekly basis. Some people say that nothing good can come out of this, their basis seems to stem from the fact that ‘competition may at some point corrupt an individual’s Money management psychology’. While some believe that a bit of compeitition may actually bring out the best in the fighter’s true potential.
Will i bleed and crumble or truimph in the face of forex trading paradox?
I need a warmup. Below is a simple Technical analysis using Multi Time Frame.Everyone please feel free to comment or improve on my analysis.
Long term analysis
- Awesome Oscillator is showing Bullish Momentum
- 2014 Secondary High level 1.53310
- 2016 Secondary High level 1.56448
- 2014 Primary High level 1.58300
- 2016 Primary High level 1.62496
Above are 4 levels of Resistance deduced from Monthly or Yearly perspective.
Mid Term analysis
- Daily price chart over the last 5 months demonstrate Higher Swing High and Higher Swing Low illustrating a bullish trajectory.
- 2016 Secondary High level 1.56448 have just been breached, thus strong immediate bullish momentum are to be expected.
Short Term analysis
- Immediate Swing High level 1.56600 just been breached, strong immediate bullish are to be expected
- Awesome oscillator histogram high point 0.008528 at immediate swing high point have been breached, strong immediate momentum are to be expected.
My trade view for EURAUD (27Nov2017 - 1Dec2017)
EURAUD strength is Bullish.
I’m expecting price to reach at least 2014 Primary High level at 1.58300 by end of this week. Immediate Swing Low level at 1.54500 could serve as an immediate level of support. A breach of Immediate Swing Low level would propel price to test 2014 Secondary High level at 1.53310.