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AUDUSD – Trading Plan

The AUDUSD is trading in a short term range around a LT resistance level (blue level):

AUDUSD

AUDUSD

Here is my trading plan:

As long as the AUDUSD keeps trading in between both green levels, I will try to trade the ST range.

If the AUDUSD breaks the ST resistance level (upper green level), it will trigger a bullish market condition and only long opportunities will be in play.

If the AUDUSD breaks the ST support level (lower green level), it will trigger a bearish market condition and only short opportunities will be in play.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

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This entry was posted on Monday, July 12th, 2010 at 10:07 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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