Forex Technical Analysis AUD 21 June

Forex Technical Analysis AUD 21 June

Today, I talk about a potential AUDUSD bearish covergence forex trade setup.  Again, the emphasis is on convergence zone of fibonaccis, support, resistance, wave 1 = wave 2 and risk management.  I am looking for a retest on the convergence zone around 102.20-102-40 with a possible scaling in trade if that area gets breached.

I also recap on the GBPUSD trade from June 20th.  I missed my target of 5640, but I talk about managing equity with trailing stops around various pivot points. This is a mechanical news trading strategy that I have developed for my trading style.  Unfortunately, I was only able to squeeze 30 pips overall.  Another 2 pips, I would have been able to double that total.  OH well!

Last I talk about the gold price volatility that caused me to exit the trade earlier this week.  The market came down over 400 pips as anticipated.  Unfortunately, I was not willing to ride this roller coaster.  But look at the previous videos from last week.  Targets were eventually hit, but sometimes being right is not enough.


Gregory King a foreign currency trader, Fund Manager, and math aficionado. “My cardinal tenet will always be "Keep Trading Simple." I sincerely believe, that in the long run, the market can be exploitable in a few situations if one has the forbearance to stick to the simple fundamentals. Overtrading is the main detriment for the demise of majority of trading careers.
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