Hey guys, following up on my previous post regarding AUD/USD.
Regarding 4HR accumulation, we saw the recent high put in the UT. Now with it breaking that high and hitting the larger HTF 4HR supply zone, I do not know. With the pullback, we got off of UT I'm playing a long to the retest zone for UT.
This long came about after watching AUD, being patient, and waiting for this 15min distribution to occur. As you can see on the chart we had spring and the reaction off spring was probable cause to call this the 15min substructure bottom. I've placed my long at the origin of this move and I'm targeting the retest of UT.
Hopefully, this will play out and we will see if we just retest UT or we push higher, clearing imbalance to the 4hr supply zone and making a UTAD.
Happy trading :)
Regarding 4HR accumulation, we saw the recent high put in the UT. Now with it breaking that high and hitting the larger HTF 4HR supply zone, I do not know. With the pullback, we got off of UT I'm playing a long to the retest zone for UT.
This long came about after watching AUD, being patient, and waiting for this 15min distribution to occur. As you can see on the chart we had spring and the reaction off spring was probable cause to call this the 15min substructure bottom. I've placed my long at the origin of this move and I'm targeting the retest of UT.
Hopefully, this will play out and we will see if we just retest UT or we push higher, clearing imbalance to the 4hr supply zone and making a UTAD.
Happy trading :)