Simply buying the close of that scary spike low bar and holding for a swing trade til near close of NFP day was easy trade. No coincidence that big down bar happened close to NFP report, it blew out most longs into the STRONG hands of the big boys that spiked it down!
No need to stress over all the noise inherent in smaller timeframes. Many more false signals in the smaller charts. Easy to see the trades here on a basic 15 min chart with just a few rules developed by the pros and generally shared throughout the trading industry!
Today it looks like AUDUSD is finally turning to tag last 3 days of missed pivots, might not get all 3 today but it does look like a trip down south for this pair on Friday!!!
Monday and Tuesday this week saw pivots missed by AUD/USD. Wednesday pr topped and reversed just after midnight (01.40 Asia) long upmove that started 11.00a on 15 Aug. Prior day range High to Low was retraced early Thursday @ 01.40a but did not exceed 76% fib-level. Previous weeklong move higher saw violent pullback starting early in Asia (0700) Thursday. 0500...
Strong action on Friday and again during last London and NY sessions have put Oz in Overbought territory.
Expect in next 24 hrs will reach down and tag both of these missed pivots!!
It took an extra day but now Oz is falling like a stone to hit those missed pivots earlier in the week. Asian session morning has already seen Tuesday missed pivot level hit and heading for Monday!
Peso needs a short spurt up to tag Friday Daily Pivot and then still has yet to tag Weekly Pivot below. Interesting day shaping up at the end of the week!
Easy, Simple method to identify and take advantage of new trend. Major Low, geyser style eruption of smart money recognizing and getting in. Passing through pivot only once (at beginning of July), next day missed pivot, price holding above. This is setup, next day is trigger with price reaching down to touch missed pivot level and now off toward higher levels. ...
