FX:AUDUSD Australian Dollar/U.S. Dollar
This is a new that I am beginning to learn and use. Here I have drawn horizontal lines corresponding to the areas of interest on the chart according to for the week and for the last trading day. We have the Point of Control in the middle where most of the occurred. Note that they are the same for last week and last trading day. Also the High Value Areas and Low Value Areas where there was less but were points of interest (note that these might not be the correct terms but these are the ones I am using for now). The HVA for last Week and Day are the same as well. Finally we have Low Nodes where there is essentially no and we can expect price to react with extremes at these levels. Since price has gaped below the point of control we will look for price action and delta order flow data to enter short at this point. If there is no signal to enter then we will readjust are view and look at the same indicators (price action and order flow) for another possible entry point at one of the lines I have drawn. Our biased is short considering that this pair is in a nice downtrend.