AlbashafFX | Testing Supply & Demand Area in Close Proximity
Updated
As you can see from the Chart above, we're recently test our Supply Area and Struggled just to touche it.
This prove that our Downtrend won't end soon.
I do believe that Downtrend continuation won't be starting too either, we can see that the Bulls are build up below our Supply Area getting ready to retest this zone again.
Our most likely scenario are the price to fall slightly into our Demand Zone, encouraging more and more Bulls to join in and then the Supply Area could be break,
So for now we should watch our Area of Interest to see the Price Action that could lead us to AUDUSD next move.
A strong Bullish Trendbar out of Demand Zone will be our long entry to test our Supply Zone, and if the Demand Zone turn out fail, we can be sure
that our next move will be continuation of the Downtrend.
Retest of our Demand Zone after Break will be our Short Entry for this pairs.
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Stay Safe, Stay Green
This prove that our Downtrend won't end soon.
I do believe that Downtrend continuation won't be starting too either, we can see that the Bulls are build up below our Supply Area getting ready to retest this zone again.
Our most likely scenario are the price to fall slightly into our Demand Zone, encouraging more and more Bulls to join in and then the Supply Area could be break,
So for now we should watch our Area of Interest to see the Price Action that could lead us to AUDUSD next move.
A strong Bullish Trendbar out of Demand Zone will be our long entry to test our Supply Zone, and if the Demand Zone turn out fail, we can be sure
that our next move will be continuation of the Downtrend.
Retest of our Demand Zone after Break will be our Short Entry for this pairs.
If you like this Idea, Please consider to follow, i update my post daily.
Stay Safe, Stay Green
Trade active
We see some Buying Momentum here on 15M ChartAs you can see, the price pushing higher leaving our initial Demand Area with this momentum.
We can join the Bulls right now to reach our first TP at our initial Supply Zone, or we could wait a little more for the price to drop into our Strong Demand Zone an place our Buy Limit Order there, stop loss could be placed below our Demand Zone just to be safety.
Trade Cautiously,
If you like this update, please consider to follow because i update my post daily
Stay Safe, Stay Green
Note
we are currently entering our Supply Area, we have to pay a lot of attention now,
the price could go back south anytime and could reach our TP at next Supply Area too.
i recomend to move your stop loss to your entry point to make this trade a risk free trade.
my bias on this pair are still bullish, because the price score a new high
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