FULL AUD/USD BREAKDOWN
AUD/USD 4H - Here is a full breakdown on my thoughts with this market and how I feel price will play out over the course of the next few days/weeks. I believe this market is going to be bearish longer term.
With that being said you can see from the illustration above that price is currently within a corrective phase and I want to see price trade us back up in a bullish way into an area of interest (Supply Zones).
My reason for this is because we have had a higher timeframe break of structure to the downside, this confirms bearish structure as its following those laws, a lower high is often produced after a new lower low.
I feel price is trading higher at the moment to set the new lower high, in order for us to find an area to enter we must look at the last impulsive wave for areas of interest, hence my Supply Zones.
In order for me to enter, I will need to see price trade into my AOI and break structure fractally to the downside, confirming the end of the current correction and the start of the next impulse.
With that being said you can see from the illustration above that price is currently within a corrective phase and I want to see price trade us back up in a bullish way into an area of interest (Supply Zones).
My reason for this is because we have had a higher timeframe break of structure to the downside, this confirms bearish structure as its following those laws, a lower high is often produced after a new lower low.
I feel price is trading higher at the moment to set the new lower high, in order for us to find an area to enter we must look at the last impulsive wave for areas of interest, hence my Supply Zones.
In order for me to enter, I will need to see price trade into my AOI and break structure fractally to the downside, confirming the end of the current correction and the start of the next impulse.
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