UPDATE ON AUD/USD ANALYSIS
AUD/USD 1H - As you guys can see price is starting to trade us lower now heading towards the two areas of interest I have given in previous pieces of analysis. We want to see price trade into one of two areas and deliver us with the confluence needed in order to take part.
By allowing price to trade into an area of interest we are able to not only get involved in the market at a better price but it also allows us to get involved with a refined entry as these are areas at which price will most likely reverse from.
Once price trades in we want to see price break structure to the upside, this will confirm to us that the fractal correction trading us lower currently has finished and a new impulsive leg is ready to be printed into the market.
When it comes to our TP and SL placement, we can look to set our SL just beneath the zone we end up getting involved from and our TP would be set just below the Supply Zone above just to ensure our TP can be achieved, this will provide us with some amazing RR returns.
By allowing price to trade into an area of interest we are able to not only get involved in the market at a better price but it also allows us to get involved with a refined entry as these are areas at which price will most likely reverse from.
Once price trades in we want to see price break structure to the upside, this will confirm to us that the fractal correction trading us lower currently has finished and a new impulsive leg is ready to be printed into the market.
When it comes to our TP and SL placement, we can look to set our SL just beneath the zone we end up getting involved from and our TP would be set just below the Supply Zone above just to ensure our TP can be achieved, this will provide us with some amazing RR returns.
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