LOOKING FOR POTENTIAL LONGS ON AUD/USD
AUD/USD 4H - This market has actually been showing great signs of bullish structure and I feel this is something that is going to be the case for some time now.
You can see from the charts that price has recently broken structure to the upside on the higher timeframes, this suggesting that the bearish structure trading us lower has come to an end an a new trend in the opposite direction is ready to take place.
In order for us to now capitalise on this move we want to see price trade lower initially to correct itself before taking us up to go on to create a new bull run. As you will see I have marked out two areas of interest I feel price may trade down and into.
I want to see price trade down and into one of two areas, to absorb the Demand needed in order to push price back up creating a new bullish impulse.
By waiting for price to trade us down and by waiting for price to give us entry confirmation we are essentially getting in at a better price.
You can see from the charts that price has recently broken structure to the upside on the higher timeframes, this suggesting that the bearish structure trading us lower has come to an end an a new trend in the opposite direction is ready to take place.
In order for us to now capitalise on this move we want to see price trade lower initially to correct itself before taking us up to go on to create a new bull run. As you will see I have marked out two areas of interest I feel price may trade down and into.
I want to see price trade down and into one of two areas, to absorb the Demand needed in order to push price back up creating a new bullish impulse.
By waiting for price to trade us down and by waiting for price to give us entry confirmation we are essentially getting in at a better price.