Going to LONG AUDUSD

9월 28일

When I draw chart like this, many will regret not buying at the low of 0.634 price level. The point I am making in this chart is it is not always possible to predict the bottom but on hindsight now that the price action has formed a pattern that it becomes clearer......

Don't beat yourself up for not scooping it up at the ultra bottom but more importantly , are you doing something NOW that it has broken out of the bearish trend line. The next few weeks will become crucial as it will tell us if the price will be supported at the resistance turn support level and continue to trend up.

OR it could be a fake break out , trapping the bull buyers ONLY to reverse down again and revisit the support at 0.634 price level again. The idea of buying a currency, stock , ETF and EXPECTING it to go green or profitable is a wrong stand to begin with. In the short term, nobody can predict the market as it is subjected to many factors affecting the price level.

On a medium to longer term basis, we are also making some educated guesses based on past historical patterns to guide us. It is at best an estimate and we have to base on our own experience to decide if we want to take the risk. If you do, next how comfortable are you with the risk level? How long are you prepared to wait for it to reach your target ? What happens if it does not ? Are you going to sleep peacefully at night or scramble to check the price every now and then?

Chill, whenever you are not sure, either take a small position or wait for further confirmation. Like I will wait for the next few weeks candles to tell me where the direction it is moving to....

Please DYODD