SWING Trade - AUDJPY
This is an interesting pair to watch because price had tested the Weekly supply zone a lot of times yet it is holding. Overall price has over-heated, and it seems the zone is still holding well due to an overlapping Supply zone on top of it.
Hence, to look for SELLS again as the price does not seem strong enough to pierce through. This is proven by looking at the Monthly Chart
Weekly Chart
- Price is high in Curve
- To wait for price to break an opposing demand zone before looking for SHORTS.
For shorter term trades, look for H4 trades
- As there is no supply zone/s formed yet in H4, wait for price to break 1x opposing H4 zone to take SHORTS
For traders with bigger appetite, wait for price to break Daily Demand Zone
In short, watch this pair closely.
Alerts were set in H4 and Daily when price is about or break the zones mentioned.
This is an interesting pair to watch because price had tested the Weekly supply zone a lot of times yet it is holding. Overall price has over-heated, and it seems the zone is still holding well due to an overlapping Supply zone on top of it.
Hence, to look for SELLS again as the price does not seem strong enough to pierce through. This is proven by looking at the Monthly Chart
Weekly Chart
- Price is high in Curve
- To wait for price to break an opposing demand zone before looking for SHORTS.
For shorter term trades, look for H4 trades
- As there is no supply zone/s formed yet in H4, wait for price to break 1x opposing H4 zone to take SHORTS
For traders with bigger appetite, wait for price to break Daily Demand Zone
In short, watch this pair closely.
Alerts were set in H4 and Daily when price is about or break the zones mentioned.
Note
Price broke H4 Demand zone; look for sells Note
A pending SELL limit order has been placed in the H1 chart on 1 Jun 2023Trade active
Pending order activated.Trade closed: stop reached
Note
it was a loss trade . Post-analysis: as the trade was activated and triggered in H4 when it was reaching HTF supply zone, the trade could have placed in HTF instead.
Expecting price to come down as it hits a HTF supply zone
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.