AUDUSD
Just been introduced to the idea of zones (support/resistance, supply/demand) whatever you'd like to call it.
I've drawn up my support and resistance line using the line chart on the daily and 4hr. I've then switched over to the candle chart and looked for what might be considered zones and drawn those in with the green boxes. Which have been refined using daily, four hour and 1 hour.
I guess looking at the chart I'd say my daily bias is long. Now just need to plan some trade ideas to execute next week on the 30min, 1hr and 4hr time frames.
Love to get your thoughts on:
- Are my line and zone within the range or being 'correct'?
- Have I identified the 'market structure' correct?