THOUGHTS ON AUD/USD
AUD/USD 1H - I am expecting some bullish structure from this pair and we have recently been delivered with a penetration of a Demand Zone that has stopped price in its tracks.
This has caused price to consolidate and actually accumulate, it looks as though price is in prep for the next move to the upside so it will be interesting to see what happens over the coming ours.
In order for us to be able to look to go long in this market, we need to have confirmation that the bearish structure that drove price lower has finished and a new trend trading price to the upside is ready to take place.
Its important that we wait for this confirmation before we look to place anything as it will increase our probability of being successful. I will be waiting for a BOS to the upside, looking for a break in the last protected high before we look to buy in.
This has caused price to consolidate and actually accumulate, it looks as though price is in prep for the next move to the upside so it will be interesting to see what happens over the coming ours.
In order for us to be able to look to go long in this market, we need to have confirmation that the bearish structure that drove price lower has finished and a new trend trading price to the upside is ready to take place.
Its important that we wait for this confirmation before we look to place anything as it will increase our probability of being successful. I will be waiting for a BOS to the upside, looking for a break in the last protected high before we look to buy in.
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