Australia vs. Switzerland

This is a very interesting Chart right now!

Look at the weekly and you will see, we are close to the ATL. This fact makes this market very interesting for buyers, as the Aussi is as cheap as possible!

So, having in mind where we are, we can now look for some structure to trade. That is what I did.

For now, we need a new High, and the correction of this high will be my Entry.

No New high = No entry
New High without correction (hitting target) = No entry (in this case, we have to wait for the whole sequence to correct, to give us a reentry

Comment:

Price did not break the previous high, so we have no entry so far. Let's see, if the price will move in our direction...

Comment:

Price is right at the bottom of our correction level:

I still have a close eye on this pair. Let's see if we get a new sequence, right from the best price possible ;-)