6m 28s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=trade_forex&ad=MusyHAYEgX8 So, historical fact tells us if it gets under the blue zone, we’re going to go to the purple-shaded area, down to 0.7330. So, that’s what I’m looking for, is the next trading opportunity. If it doesn’t do that and makes its way back to the orange zone, that, again, could give us our next trading opportunity. I don’t think there’s any significant reason right now to go long on the AUDUSD. Moving on over to the NZDUSD. Similar situation. We’ve been selling this currency pair all week long. In fact, I was in it three different times. Actually one time earlier this week on Monday got stopped out. Got back into it at a higher level and now working out quite nicely in our favor on that earlier trade we made at 160 pips right now, but let’s look for our next opportunity. Blue trend line. We broke underneath there. We’ve talked about the head and shoulders pattern quite a bit at the black trend line at the very top of the chart and the red circles, so that’s the direction we’ve been focusing in on. Again, let’s go with historical fact first. You look back to the left. Don’t look at the right yet. Look to the left. There’s a black box over here on the left-hand side. I’ll move it around a little bit right there. You could see that black box. If it gets under the purple zone, where does it go? The orange zone. That’s not too hard to see. Even over here on the left-hand side, when it got above the orange zone, it went to the purple zone. So, you could see that historical fact. The purple zone. The orange zone. Clear decision points here in the market. So, if it gets under the purple zone, not even all the way back there, you just look right here on the right-hand side of the chart and you could see under the purple zone goes to the orange zone. So, that’s kind of what we’re looking for. The momentum. The sentiment. The trend is pushing lower right now. And if we’re going to look for an opportunity to go short, the next thing we’re looking for is that breakout underneath. We don’t want to assume either one – AUDUSD or the NZDUSD. We don’t want to assume it’s going to break out. We want clear fact. We want to know it’s a breakout rather than a false breakout. So, at this point, 0.7050, 0.7055 is the bottom of the purple-shaded area. We need a breakout underneath there to be the trigger, to be the confidence booster that it’s going to head on back down here towards the orange zone at minimum. Of course a break of the orange zone and 0.7000 would likely go lower, but that’s at minimum for the day. We need it to go down there. If you’re going to sell anything, you want to sell it on either a rally to resistance, which is too far away at the blue zone or a breakdown underneath support, which is 0.7055 here for the NZDUSD. Take it down to the four-hour timeframe. Doesn’t really change it, but just gives us a little bit of an interesting view of history here. You could see over here on the left-hand side, support, support, so we need a breakdown of that support. A breakdown of 0.7055, and then we look for the opportunity to go short towards the 0.7000-level for the NZDUSD. https://www.youtube.com/watch?v=MusyHAYEgX8 Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.