Trading a longer time frame helps fit trading into your schedule while you move from day job to full-time trading. Learn to trade longer time frames with 
In my last post I speculated if the AUD/USD trend was strong enough the pair may bounce early on support around $0.6930 and bounce it did, three times. With two hammers and a bullish engulfing pattern I hope you found an entry that worked for you and caught some pips.
Deciding how to enter a trade when price approaches an potential support and resistance zone is subjective but since I get email about it, I thought I’d share this chart as an illustration of what I look for. To me, support and resistance trading to me is about waiting for price action to tell you the story.
If I am very confident in an entry zone I may use an entry order at the boundaries of the entry zone however if I am not confident I will wait for the market to show it’s cards to me first through price action. I like to see long candle wicks suggesting strong price objections to that entry zone or very strong reversal patterns such as bullish or bearish engulfing candles. I use the same process regardless of the time frame I’m trading.
Best of luck!
Ryan
Hi Ryan,
Personaly I am waiting for a more important pullback before jumping in. If I get my way we sould see strong pullback in SPX tomorrow hence I am looking to get long audusd sometime Monday or Tuesday at earliest. Will see.