AUDUSD I am waiting for a substantial long position here, I have several reasons but I am going to wait for a gold cross to enter, just for the beauty of it
AUDUSD The probability of China achieving its growth goal “now looks very high,” said Jacqueline Rong, chief China economist at BNP Paribas SA. “Only a mild rebound in the fourth quarter will get the job done.”
AUDUSD DATE: 17th October 2024 (GMT+1) TIME: 10:30pm ASSET: AUD/USD
HIGHER TIMEFRAME OUTLOOK ***Day Timeframe Outlook = Buy (REASON FOR DAY SIGNAL: Price reaches a demand zone)
MAIN CONFLUENCES: 1. Price Rejection at Psychological Levels 2. Candle Stick momentum AND/OR Intent (intention of price) as price reaches a HTF celestial body 3. HTF FVG Retest of a Change of Character with Long Pin Bar (Happening About Discount Buy, Happening Below Premium Sell) 4. Market Reaching a Demand Zone as evidenced by a Higher Timeframe OB 5. FVG Retest of a Chat Pattern or Channel at Psychological Level.
However to be a successful day trader requires hours of commitment analyzing charts e.g. (spotting channels, breakout points, demand and supply zones finding support level for each TF) and understanding economic news forecast for each currency, whether it be USDJPYAUDUSDGBPUSDNZDUSD just to name a few. Always remember these Market movements aligns with the reaction to the Dollar Index (DXY).
If your serious about this find what works for you to become profitable whether it be scalping a few pips when opportunity arises, swing/hedge trading or even just entering solely on your technical analysis.
Me personally I Hedge trade but most of the times I just be scalping on large lot sizes to earn fair rewards on short movements. I hope we all had a great week and continue to study charts and forecast for the coming weeks and months ahead to continue earning profits.