A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Happy Wednesday!
A brief Update here on our AUD/USD Price action brings to mind a few good points!
Our immediate surge through Resistance here on the Hourly did fail, as we look to be moving for another Test of Support on the back of Risk Aversion and the stronger Dollar.
Give the Capture a click, and Post-Time now is about 12:00 GMT.
But why really does this happen?…..
It brings to mind one of the Beautiful Principles of Trading!
The Concept of “Always Be Aware of Who Is On the Other Side”….and many variants, of course.
If your view was largely a Counter-Trend view…the push through and continuation of Price appreciation would have been in your favor.
If your view was in concert with the larger overall Trend… then you had significant Builds of Selling orders around this same Resistance level…viewing this as a larger Bear Flag formation.
The Counter-Trend folks were certainly stopped out here…but they have significant probability in their favor now down at Support of buying opportunities.
On the the other hand…the Trend folks will simply hold on…looking for the larger Support of the .6060’s Area and simply ignore the Market “Noise”.
Always food for thought here, as we have an infinite number of ways to work in these Markets… but as always… having your defined Risk Parameters in place will make sure you actually “STAY” in these Markets!
