AUD/USD 1H - I still believe this market is going to break down and deliver us with the pullback we want in order to get involved in buy positions. I have the above demand zone as an area we can look to get involved from.
By waiting for price to trail back into this demand zone we are able to really refine our entry which increases our RR and the swing we can capitalise on. This doesn't mean to say we cant get involved in sells before we buy longer term.
We must wait for confirmation that price is putting in a corrective wave though before we do look to sell into this market, confirmation of this can come from a BOS to the downside.
Once we have been delivered with that all we need to do then is wait for price to pullback putting in a fractal lower high and thats when we look to execute. Price looks as though its going to break structure fractally so lets see what happens.
By waiting for price to trail back into this demand zone we are able to really refine our entry which increases our RR and the swing we can capitalise on. This doesn't mean to say we cant get involved in sells before we buy longer term.
We must wait for confirmation that price is putting in a corrective wave though before we do look to sell into this market, confirmation of this can come from a BOS to the downside.
Once we have been delivered with that all we need to do then is wait for price to pullback putting in a fractal lower high and thats when we look to execute. Price looks as though its going to break structure fractally so lets see what happens.