Information Only- Not 4 Trading. Trade in major trend direction, use S/R areas, momentum. Money management #1.
From AUDUSD 1Daily chart with Heikin Ashi candlesticks for TREND analysis (instead of regular candlesticks). PA has been sitting on Support of 0.72000 (psychological round number) for last seven days. In my opinion this is a major PA direction change area of this pair to BULLS being in change. Resistance area on chart is 0.73000, pair will be heading towards in this coming month of June. Noted orange zone on chart is turn around BULL buying area.
RSI has been going side-ways at around the 30 level (oversold area) most of May. Noted on chart is Ichimoku cloud indicator which in really a 5 in 1 indicator. Indicator gives information about Future PA and S/R areas. The cloud (Kumo) twist is indicated on chart in June. When SPAN A (red) line of cloud does a TWIST with SPAN B (green) line of cloud and both turn around in opposite direction of each other on chart-- gives you a head up of a very soon MAJOR PA change. I will wait for breakouts to Bull side for this pair, next month. Wishing you Best success in trading.
From AUDUSD 1Daily chart with Heikin Ashi candlesticks for TREND analysis (instead of regular candlesticks). PA has been sitting on Support of 0.72000 (psychological round number) for last seven days. In my opinion this is a major PA direction change area of this pair to BULLS being in change. Resistance area on chart is 0.73000, pair will be heading towards in this coming month of June. Noted orange zone on chart is turn around BULL buying area.
RSI has been going side-ways at around the 30 level (oversold area) most of May. Noted on chart is Ichimoku cloud indicator which in really a 5 in 1 indicator. Indicator gives information about Future PA and S/R areas. The cloud (Kumo) twist is indicated on chart in June. When SPAN A (red) line of cloud does a TWIST with SPAN B (green) line of cloud and both turn around in opposite direction of each other on chart-- gives you a head up of a very soon MAJOR PA change. I will wait for breakouts to Bull side for this pair, next month. Wishing you Best success in trading.