Thursday, August 9, 2007
Fantastic MACD and RSI lineup to trade AUD/USD
Fantastic MACD and RSI lineup to trade AUD/USD
One important point that she mentioned in her comment is that this Forex Trading Course is easy to understand AND she is going to test it on DEMO ACCOUNT 1st!! Its better to get comfortable with the system before to shook real money with it.
When RSI is above 70, it is in overbought position, if it is below 30, then yes, it is underbought.
The AUD/USD was overbought yesterday night.
The MACD was also very high, so a correction was the need of the hour. Thats what exactly happenned. The AUD/USD started retracing and is still going very strong. It looks like the currency pair will move close to 250 pips.
The move is strong. The ideal way to ride these waves is to use a concept called Elliot waves which is a sequence of trend, correction, 2nd trend, 2nd correction and then 3rd trend.
One thing to keep in mind is that when doing forex day trading is to use correct timeframe.
More on this later !!!
By the way, how has been your experience with forex trading ebook written by adam burgoyne? Atleast Jasmine had great one. This is what she wrote -
"I read this book and it was easy to understand. The technical indicators are, like you said, very commonly used. So that makes this system much more easy to grasp and is worth the price. Now I am going to use all the forex trading strategy on my demo account"
Thanks Jasmine for the message..It was so sweet of you.
One important point that she mentioned in her comment is that this Forex Trading Course is easy to understand AND she is going to test it on DEMO ACCOUNT 1st!! Its better to get comfortable with the system before to shook real money with it.
5emas Forex Trading System definitely is worth to buy. Also, just to let you know Adam is running special discount offer currently on the course. Check it out
Labels: 5emas Forex Trading System, adam burgoyne, AUD/USD, forex pips, MACD, oversold RSI, RSI, technical analysis
