UPDATE ON AUD/USD TRADE
AUD/USD 30M - As you can see price is playing out well as of now, price has traded in to the Supply Zone above, cleared that area of inefficiency and has began to trade us lower breaking fractal lows on the 15 & 5M timeframes.
Moving forward I am anticipating that price may trail back up and into a fractal area of Supply found within the impulsive wave that traded price lower originally. The reason I believe this is what will happen next is because as we know in the eyes of bearish structure we see lower highs and lower lows.
Price has broken the last protected low within the bullishness that traded us up meaning we are following bearish laws breaking lows and protecting highs, so the high created from the Supply Zone should be protected as we go on to create a new Lower High.
The lower high that will be created is the reason I am expecting the pullback. This is another area at which we could get involved from, this giving us an area thats refined providing us with better odds and a better RR ratio.
Moving forward I am anticipating that price may trail back up and into a fractal area of Supply found within the impulsive wave that traded price lower originally. The reason I believe this is what will happen next is because as we know in the eyes of bearish structure we see lower highs and lower lows.
Price has broken the last protected low within the bullishness that traded us up meaning we are following bearish laws breaking lows and protecting highs, so the high created from the Supply Zone should be protected as we go on to create a new Lower High.
The lower high that will be created is the reason I am expecting the pullback. This is another area at which we could get involved from, this giving us an area thats refined providing us with better odds and a better RR ratio.
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