Forex trading for beginners AUDUSD chart markup analysis, one of the most traded pair in the biggest financial market around the globe, Australian dollar/American dollar and we have bring you the best chart mark up that you can use and get idea about the technical analysis, a right markup to show you all how to trade on support and resistance and its pullback?
So you will see a currency chart of Australian Dollar/American Dollar. we are using a simple support and resistance zones to enter a trade.
Forex trading for beginners AUDUSD chart markup analysis
Here is the chart to show you how we entered the trade.
So you can see the chart of the Australian dollar/American dollar.
There are support and resistance level. the price crossed the 0.71179 on 7th Jan 2019 and came for a pullback on 8th of Jan 2019.
Then it went all across for a buy and came back to the previous support level on 22 Jan 2019
we waited a day so that the price go bullish and come for the pullback.
And on 23 Jan 2019, we are now ready for a good trade.
You can see the price has already pulled back and you can the RSI is below 30 so it is a good trade.
now we are entering the trade with careful risk management.
Trade on AUD/USD
As you can see we entered the trade at point 0.71305
Stop losing at point 0.71143 and Take profit target at point 0.71803.
our target is 50 pips and stops loss is 16 pips
and it is a short term trade and we are using One hour time frame.
If you have proper risk management and a good technical analysis
you can take lots of small trade a day.
So what you need is your sharp eyes and charts open in front of you
And you are ready to jump into the Forex market and trade like a professional.
Forex trading for beginners AUDUSD chart markup analysis, For more useful tips and information about Forex visit our site Techzeer.