Video Synopsis - AUDUSD Outlook, Australian Dollar to Reverse Trend?
In the above forex trading educational video I discuss the AUDUSD monthly chart and I plot some key horizontal levels on the chart. The idea is to start with the higher time frames when drawing horizontal levels, then we scale down to the lower time frames.
In the above video I demonstrate how to first draw important horizontal levels on the monthly chart showing “containment points” of resistance that occurred on the AUDUSD at the time of the recording of this video. Drawing levels of support and resistance on the monthly chart can give you a good perspective on what the market is doing, this way when you zoom down to the lower time frames, you have some reference points to watch for price action setups to form around.