15 Apr '21: AUDUSD Ent. (1H:Bonus):REDO

On the 1H, there's a bearish div. forming with a doji at the end. Attempts to pinpoint the new, best entry are slightly out of focus. I would not be surprised if the entry was located in one of the Fib. confluence zones (0.886, 0.786), though a revisit of my monthly line is still possible. Given the noise in the signal, and the adjacency of relevant levels, I'm not sure there's much of a difference. The upward move being nearly certain, I do not expect worse than a higher drawdown than necessary if a buy were placed in one of these zones.

As before, Swing(0) simply refers to the present price swing on the hourly chart. All possible entries are marked. Several Fib. lines overlap previously identified zones. Colors are as follows:

0: Gray
0.114/0.886: Orange
0.236: Red
0.382: Yellow
0.5: Green
0.618: Blue
0.786: Purple

Let's see how far it runs...

Comment:

My buys have not changed. If I miss this one, I will reassess.

Comment:

Solid Fib. lines correspond to the upper Fib. retracement with the higher low bottom. Dotted Fib. lines correspond to the retracement with the lower low.

Trade closed: target reached:

TP1 reached before a retrace. Nearly retesting the monthly support again. Still a believer in this trade and other longs against USD, but will be looking for a new entry, or to verify previously identified entries, to be entered later this week after DXY finishes a brief consolidation.

If DXY turns around, will reassess.