- Dump down to lower supply zone
- Expected rejection at supply zone and pump upwards (multiple previous touches)
- Order set at top of supply zone
- Stop loss set just below supply zone for breathing room
- Target set to demand zone (previous consolidation before the last dump)
- Would also be looking to take out a lot of retailers stop losses at 0.70759
Price did a 10 PIP stop run and reversed again, I'm expecting during the london session a reversal down the the 15 OB block and targeting the buy side liquidity, I'm taking a conservative approach the the first BSL, 1:9 RR using 2% thats 18% return.
The daily Order block has been touched and rejected, we could be looking for liquidity runs if institutions hold long positions. Looking to take profit around my Braker Block which is a premium market for institutions to sell their longs and either go net long or short.
Overall the conditions of the market haven't shown enough evidence that that's gonna play out....
This pair is a definitely a Long trade. Looking at the previous time frames with 1 Day and the market is trending up, On June 9th 2020 the market has touched the 0.70374 after a 31st December 2019 and has crossed the resistance level for a 1 Day chart.
As it is trending high the market would touch the next resistance point at 0.73726 before the trend reverse....
AUDUSD has been bullish. The market has been bearish as of recently in the smaller time frame trends, the new objective is to aim for the new higher highs. I've listed potential areas in the chart known as supply zones to be areas of potential reversals or retracements. Regardless I've already engaged in this trade and expecting a new daily high to be made else at...
Currently, AUDUSD is ranging, and in a short term downtrend. If that downtrend is broken then for a risky trade take a long targeting the top of the range.
Otherwise, I would wait for a breakout. Retail sentiment has been short for a while now, so if there is a break down out of the range I expect a long term short move.
With news of USD being at a 2 week low earlier today, this would lead to AUD strengthening against the dollar, We see a structure of higher highs ans higher lows, with each higher high acting as support for the new higher low, following this behavior we now are hopefully seeing that happen again and therefore a continuation in upward trend, 8 EMA coming close to...