I’m relatively new to forex, but I thought I’d share a trade idea I have. I was encouraged by Forex Ninja’s post and it’d be helpful to receive some feedback too. Here goes nothing:
I still haven’t dablled in fundamentals as I am still learning technical analysis. In this chart, the MA I used is the 200-SMA. I noticed that it’s holding. This, in addition to the Fibs and the “higher lows” I think the bulls will push the pair higher.
First thing you could learn here is that it is not wise to put in a trade plan a few hours before NFP release.
It made your trade plan invalid.
Bias for Aud/Usd is now bearish since support @ 1.0165 was breached on Friday.
