Yesterday in the live trading room, we were discussing the potential upcoming spot forex trading setups on the AUDUSD. Specifically, the 180 minute showed a congestion area and price was approaching the congestion dot. However, the THD Meter showed it wasn’t time to take a trade because the Aussie Dollar and US Dollar were heading in the same direction. It was better to wait until after the market report, especially if trading the spot or futures side.
As you can see in the currency meter, the pairs did line up (as well as the Yen and Aussie too). The Aussie was weak (moving down) and the US Dollar and Yen were heading up. This is exactly what we need.
Spot Forex Trading
Now let’s see how the forex trading setup occur:
- Retracement to Trend ATR
- Must be on diverging buying volume
Both trades setup as anticipated. Trades can be entered using the Futures, Spot Forex or Binary Options.
These techniques for spot forex trading, futures and options trading are taught in our online video training and our seminars.