Hi everyone - this is my first post. I’ve been around a few times but I now feel that I need to be part of a Forex community. Babypips appears to be the best in that regard.
I’m a discretionary trader with an average knowledge of technical analysis. If people would like to comment on my analysis etc please feel free. I hope to be a regular contributor - so here goes.
I hope that I uploaded the chart. The chart is a daily of the AUDUSD as at 5 August 2022. As you can see the price has penetrated the 10 day moving average and is about to go below the previous bar. I put a a short entry when it crossed the 10 day moving average @0.69650 with a stop @ 0.69901. I’ll add another contract when it penetrates the low of the previous bar @ 0.69332 … target - no idea but I’ll close out when the price crosses the moving average. For experts on this site please feel free to comment.
