ChaosTrader63
Long

AUD vs USD Possible Kijun Bounce

FX:AUDUSD   Australian Dollar/U.S. Dollar
We are looking at the H4 on the AUD vs USD and we see the blue line which is the Kijun Sen. Price is currently rejecting this level letting me know that this is an area where there is some buying interest and a possible move higher. If price rejects this level then we can set up our opportunity but if this level is violated then we are looking at two lower levels for price to find support. The first level is the daily fractal level at .72560. The market loves to break a fractal and then retrace back to that fractal level and find support or resistance and we see this happen very often in our trade setups. The current candle has rejected right at the daily fractal level and this does look like a very strong area but again support and resistance is a area and not an exact level. Be patient here and let the market tell you what it is going to do. If we violate a previous high then interest should increase. If we fail to honor this level then we look to our H4 fractal level which is a zone located at .72340 & .72232. This fractal zone would be our next interest level and a place where we look for support. When I am trading I look for levels and trade levels. If the market is not at my level then I wait until the market does what we expect it to do. This is all part of planning your trade rather than just jumping into a trade. Once we see reversal signals at our levels then we enter the trade, Same thing here with this opportunity. I will update when the trade is triggered but until then be patient and have a great trading day. Check me out at http://www.fxatoneglance.com
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