As it is the easter break for many countries - today is a great day to review trades.
For us - we review GBP AUD
we have a great one hour supply zone which was broken and retested as expected to grab and accumulate a few more orders.
we have a strong downward push candle which takes us 100pips further down - and continues to fall as bearish move is very strong - there is not a test at all by looking at the 30min wick.
From here price creates lower lows until a final push into the demand zone - and creates a rejection wick.
Price then begins to side line as buyers enter the market above the daily zone.
Now we see a final push of profit taking by the sellers - forming a base.
Next demand takes over.
For us - we review GBP AUD
we have a great one hour supply zone which was broken and retested as expected to grab and accumulate a few more orders.
we have a strong downward push candle which takes us 100pips further down - and continues to fall as bearish move is very strong - there is not a test at all by looking at the 30min wick.
From here price creates lower lows until a final push into the demand zone - and creates a rejection wick.
Price then begins to side line as buyers enter the market above the daily zone.
Now we see a final push of profit taking by the sellers - forming a base.
Next demand takes over.