UPDATE ON AUD/USD PAIR
AUD/USD 1H - Now that we have seen price break structure to the upside we can now look to buy into this market and be safe with our decision as the break in structure tells us that price is going to put in further bullishness.
I want to see price now pullback trading us back down to set a new higher low, this will be following the laws of bullish structure, creating higher highs and higher lows. I have gone ahead and marked out an area of interest below.
Once price trades us down and into the area of interest, in order for us to have entry confirmation we will want to see price break structure fractally again in and around the zone we have marked out. This BOS can be done on timeframes as low as the 15m.
When price breaks structure to the upside we can then look to enter, me personally I will be placing my SL below the zone price trades into and my TP will be set just below the zone I want to see price trade up and into, this giving us a great RR ratio.
I want to see price now pullback trading us back down to set a new higher low, this will be following the laws of bullish structure, creating higher highs and higher lows. I have gone ahead and marked out an area of interest below.
Once price trades us down and into the area of interest, in order for us to have entry confirmation we will want to see price break structure fractally again in and around the zone we have marked out. This BOS can be done on timeframes as low as the 15m.
When price breaks structure to the upside we can then look to enter, me personally I will be placing my SL below the zone price trades into and my TP will be set just below the zone I want to see price trade up and into, this giving us a great RR ratio.
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