Expecting bullish momentum on AUDUSD
Updated
Monthly timeframe
- Last monthly candle bearish rejection wick -> when looking at the zone that caused that bearish rejection not a single selling region was hit
- Inverse head and shoulders with a false break of the shoulder 1 region and currently trading back above
- If the bears want to kick in higher liquidity will be needed
Weekly timeframe
- Bearish market structure (first time break -> hardest thing for the market to do)
- Bullish fib from the double bottom in play
- Bullish indicational candle
- Bears are not kicking in
Daily timeframe
- Inverse head and shoulders as a scale-in for the bigger not yet completed bullish M
4H timeframe
- 5-leg fib completion as my entry criteria (proven daily supply and demand zone)
- Last monthly candle bearish rejection wick -> when looking at the zone that caused that bearish rejection not a single selling region was hit
- Inverse head and shoulders with a false break of the shoulder 1 region and currently trading back above
- If the bears want to kick in higher liquidity will be needed
Weekly timeframe
- Bearish market structure (first time break -> hardest thing for the market to do)
- Bullish fib from the double bottom in play
- Bullish indicational candle
- Bears are not kicking in
Daily timeframe
- Inverse head and shoulders as a scale-in for the bigger not yet completed bullish M
4H timeframe
- 5-leg fib completion as my entry criteria (proven daily supply and demand zone)
Note
Entry invalidNote
No longer interested in this particular setup after CPI and FOMC news
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