AUDUSD Analysis. 2 False Brake Out!!!
Hello everyone. I want share my idea about AUDUSD.
Last week we saw 2 False Brake outs from Flat ( I marked both with yellow circle ) with it market make lot of liquidation, but end of the week price stop moving when it was on first daily Fibonacci LVL.
Price movement down side is strong, and it didn't give me any opportunity for open long position, for that I need brake first resistance LVL which is at 0.667 and then brake strong resistance where it made false brake out which is at 0.679
Here is my 2 scene of price movement.
Bullish Scene 1 - Brake 0.667 LVL retest it and then brake strong 0.679 LVL after retest it need to brake another Resistance at 0.689. that will be confirmation of bullish trend then we can catch good bullish movement.
Bearish Scene 2 - brake Support LVL at 0.664 retest it and continue moving downside brake second big support where it made False Brake out, and last it need to brake 0.647 LVL after retest that broken support we can catch good bearish move.
Be Patient!!!!!
Last week we saw 2 False Brake outs from Flat ( I marked both with yellow circle ) with it market make lot of liquidation, but end of the week price stop moving when it was on first daily Fibonacci LVL.
Price movement down side is strong, and it didn't give me any opportunity for open long position, for that I need brake first resistance LVL which is at 0.667 and then brake strong resistance where it made false brake out which is at 0.679
Here is my 2 scene of price movement.
Bullish Scene 1 - Brake 0.667 LVL retest it and then brake strong 0.679 LVL after retest it need to brake another Resistance at 0.689. that will be confirmation of bullish trend then we can catch good bullish movement.
Bearish Scene 2 - brake Support LVL at 0.664 retest it and continue moving downside brake second big support where it made False Brake out, and last it need to brake 0.647 LVL after retest that broken support we can catch good bearish move.
Be Patient!!!!!
I lost my position when I open long position but I came back with Bearish Scene and go into profit.
We are at good LVL, if we will follow to trend at the moment we see the best LH for entry, I think I will open my short position tomorrow.
TIP- you will never win with 100 % but scene helped me for make comeback in my lost trade.