I am looking to enter a position on AUD/USD at a key level that aligns with this month’s discount zone. Since there are no significant fundamental factors influencing the Australian dollar or the U.S. dollar at the moment, this setup is based purely on price action and technical confluence.
Trade Setup:
Market Context: Price has retraced into the discounted portion of the monthly range, indicating a potential area of value.
Key Level: The entry is planned at a well-defined key level, which has previously acted as a liquidity cluster.
Confluence: The combination of the discount zone and key level increases the probability of a reaction in this area.
Trade Setup:
Market Context: Price has retraced into the discounted portion of the monthly range, indicating a potential area of value.
Key Level: The entry is planned at a well-defined key level, which has previously acted as a liquidity cluster.
Confluence: The combination of the discount zone and key level increases the probability of a reaction in this area.
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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.