POTENTIAL SELLS ON AUD/USD
AUD/USD 15M - As we can see above I have gone ahead and highlighted two potential SELL zones that I feel both hold validity when it comes to presenting us with tradable opportunities.
The first Supply zone I have highlighted is less significant just because its on the fractal structure, but this doesn't mean that it doesn't have the strength or volume to continue this bearish momentum lower.
The second Supply zone I have highlighted above is for the higher TF structure and I am confident that if the fractal supply zone doesn't reverse the current bullish correction the larger one will.
Either way in order to enter positions based on these zones we want to see price penetrate and deliver us with a BOS to the downside giving us the confirmation that the current trend is finished and the next one is in bound.
The first Supply zone I have highlighted is less significant just because its on the fractal structure, but this doesn't mean that it doesn't have the strength or volume to continue this bearish momentum lower.
The second Supply zone I have highlighted above is for the higher TF structure and I am confident that if the fractal supply zone doesn't reverse the current bullish correction the larger one will.
Either way in order to enter positions based on these zones we want to see price penetrate and deliver us with a BOS to the downside giving us the confirmation that the current trend is finished and the next one is in bound.
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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.