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TraderDominik
Dec 6, 2021 6:32 AM

AUDUSD - BUY opportunity soon!  Long

AUD/USDOANDA

Description

- On the weekly chart, the price is in the demand zone, there is a high probability that bulls will come to our market, I am waiting for confirmation by nice bullish candle and then I will look for possible opportunities to buy in a lower time frame
Comments
BillionaireBlessed
What do you think we can expect from NZDUSD?
TraderDominik
@BillionaireBlessed,



It's a very similar situation, NZDUSD have a very similar correlation... it depends on how close the weekly candles...
BillionaireBlessed
@DominikVlasaty based off the weekly close what do you think we can expect
TraderDominik
@BillionaireBlessed,

Since W closed the first nice bullish candle on the support, it may mean a reversal of the price process to bullish, but the first candle is not as high a probability as if there were two candles, so you have two options ...

1) Buy on H4 on some support, insuring the position at 1:1, if by chance the price went further down against support on W

2) Look for sales in the supply zone on H4, but here it is also quite risky, because the price this support can turn around

3) Bulls and bears will argue with each other and between the 1st and 2nd variant a "duel" will start and consolidation will occur, but if you take good entries and secure a position so that you do not lose money (at 1:1 you will end half the position , then you don't care if it goes further up or against you to SL, because you don't risk anything and let the market do what it wants)

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