Forex Markets

One of the trades I went over in the weekend’s weekly market preview was a continuation of the AUD/USD short trade I was already in.

First up, here’s a reminder of the higher time frame chart for context around why I’m playing from the short side:

AUD/USD Daily

As you can see, price rejected off the weekly support/resistance zone at the top, broke through trend line support and has now pulled back into that nice area of interest.

Here’s what I said inside the weekly preview blog that I linked to above:

This is the level that I’ve already been shorting and either you’ve taken profit multiple times or you’ve been given multiple chances to get short if you missed the previous chance.

Here’s an intraday chart to really highlight this fact:

AUD/USD Hourly

“Just be patient in your trading. Contrary to popular belief, the market hardly ever rips and runs away without you.”

See what I’m talking about?

AUD/USD Hourly Updated

You’re mostly often not going to get left behind. You’re actually more likely to lose your patience and cut when you shouldn’t, rather than not have a chance to enter in the right spot.

We see it over and over again, with this Aussie setup being no different. I hope you didn’t lose your patience and either cut your shorts early, or avoid the multiple chances that the market has given you to get in.

✌🏻.

Return from AUD/USD Shorts Play Out. Did You Remain Patient? to forexbrokr's Web3 Blog