1. Monthly momentum up
2. Weekly strong rejection
3. 2 potential untested demand zones
4. Waiting for candle confirmation within these zones
5. Potential scale ins once the overall move has been initiated.
I prefer this to the AUDNZD setup I posted today.
1. Monthly momentum up (2 confirmations)
2. Weekly low likely to form between Monday - Wednesday (ideally into one of our two zones)
3. Structure shifting upwards
4. Waiting for 4h confirmation for main entry
5. Optional scale ins on 30m once the move is initiated.
Any questions? Let me know in the comments
Logic
1. Failed to close below monthly level last week
2. High probability of reaching next daily level of significance
3. Waiting for 4h or 1h break of structure to confirm directional shift
4. Entry on retrace & confirmation
Let me know if you have any questions!
Monthly & Weekly level cluster, strong weekly rejection closes and 4h structure breaking to the upside. Already in one position from the low, ideally waiting for a retrace to into the zone marked, or potentially a little lower before anticipating upside.
It's possible we don't abide by either of these scenarios and go down once more before a move up, but there's...
