18 Oct, Daily Pre-Market Report

AUDUSD is a forex cross we are “position” long, however it is overbought in the short term and we are looking to profit from a pullback, and we're waiting for a higher risk counter trend short play to setup. We use the daily chart as our anchor and the 240 minute for entry. We use two accounts for this, otherwise we would be closing some of our “position” long trade when we shorting AUDUSD. I'm also looking for negative divergences in the RSI.  If you would like to continue learning how to trade profitably  register here for a 14 day guest pass to the GT members area