Hi Pixie,
I trade mainly CFD, had not traded forex for a long time but I have strated to look at forex again.
In my opinion, one of the best indicator chart is the Ichimoku chart, which can be used for CFD, equity, or forex trading. I have been using it for a few years now but I am learning and finding new ways to interpret the Ichimoku charts.
I have uploaded here two Ichimoku charts of aud/usd pair: the one hourly, and four hourly. Both chart are showing that the aud/usd is bearing in both the time frames. "bearish" because the price is below the Cloud (the shaded area). This gives the broad picture view of the trend. Thus, based on the Ichimoku charts, I would not go Long, will only look for Short to enter in the One Hour time frame.
The One Hour chart is interesting, in that you can see price is just below the Cloud, meaning it is hitting Resistance at the price level, sort of substantiating my view that I should not go Long.
I am no expert in either the Ichimoku Charting system or as a trader, the views are just my opinions.
