I looked at AU again and imagined 3 scenarios for the next move. Looking ahead, I want to say that the second and third options are more likely to occur.
First scenario is most ideal to take the trade. Because we have liquidity created above 5m OB. And Fibo also shows strong reversal level at that order block.
Second scenario is more logical because basacly we are in downtrend. Price took buyers luqudity and two times sellers liquidity. So this move is with high probability.
In the third scenarion price will take buyers liquidiry again after what we will see fast push up. In technical analasis this pattern calls expanding triangle or ABCDE Elliot wave.
Everything will depend on how the hourly (4-hour) candle close. Patience is the key.
Good luck:)
First scenario is most ideal to take the trade. Because we have liquidity created above 5m OB. And Fibo also shows strong reversal level at that order block.
Second scenario is more logical because basacly we are in downtrend. Price took buyers luqudity and two times sellers liquidity. So this move is with high probability.
In the third scenarion price will take buyers liquidiry again after what we will see fast push up. In technical analasis this pattern calls expanding triangle or ABCDE Elliot wave.
Everything will depend on how the hourly (4-hour) candle close. Patience is the key.
Good luck:)