My Search for the Holy Grail of Forex Trading

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As a beginner in the Forex market I wanted to learn everything I could to get an edge. I took multiple courses and entered into mentoring programs etc. I tried all of the technical indicators available in an attempt to find the “Holy Grail”. It wasn’t until after this extensive testing that I realized that success in the Forex market relied heavily on my ability to stick to the basics. All the indicators in the world won’t make you a good trader. I found that the more stuff I tried the more cluttered my screen got and the more confusing trading got. The process I underwent reminds me of a spiritual metaphor I once heard where the farmer who tills his soil and works his land decides to search for enlightenment. Eventually, after years of spiritual search for enlightenment, he finds what he was looking for right there, on his farm, tilling his soil and working his land. However the journey was necessary to discover and appreciate this.

AUDUSD potential reversal pattern

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It is no secret that the AUDUSD pair has been in a strong uptrend for quite some time. That trend has been capped recently at 1.0200. My thoughts now turn for reversal possibilities. There has already been a break of the daily trend line established back in August. Before the last high a former resistance area was found from the 0.9900 to 1.000 zone. If this duplicates on the right side of the high it could form a head and shoulders reversal pattern and the beginning of a leg down. Using this overall outlook I will begin to drill down to smaller compressions and look for entries for sells between the 0.9900 and 1.000 zone. Fibs of the last run down on the