AUD/USD 4H - Bullish MSSHi all.. thanks all for the huge support following recently!
Here is my breakdown for AUD/USD from a 4H perspective..
Firstly the easy thing to notice is the 4H breakout from the Trend line. This large Bullish movement created a MSS. We then have had a very clean buying level left behind from that mitigation block before the breakout.
As you can notice the most recent supply zone is what kept the price down although we did see a lot of consolidation forming on that supply in my eyes telling me that structure level isnt going to hold another push.
The current price is at a very strong OTE zone which is another confluence to buy from. We also recently took out the most recent protected high so we very well could see a large movement from market open and if that is the case Id potentially be looking to buy straight into the next pullback.
For a strong buy setup, look for positions above the Monthly High Strong Time Frame.
Im targeting Buy side Imbalance giving us two clear targets.
Good luck to the traders that follow this setup.