Reviewing AUDUSD | How do I catch moves like this?
AudUsd was in a pretty bearish market as seen on the daily timeframe. Never underestimate what price may do. We know that price and the market in general flows through a pattern of breaking a zone and retesting that same area. On the daily timeframe, we have 2 previous structure lows and a bit of demand as marked in the left chart. Price broke this demand during a 12 day crash and decelerated greatly after. After teetering about in a 100 pip zone, the buyers came into the market for a pull back. Once we reached our previously broken demand, we saw another deceleration in price; this time showing lots of buying exhaustion in the zone. Now moving over to the 4H chart, we see the buyers attempting to drive price past this area of breached demand. They fail and seller momentum comes in breaking minor support (marked by the black horizontal line) and ultimately our previous structure higher low (highlighted in purple/white). Price retests both the minor support first and then later our previous structure higher low both being entries. These trades required stops of just 26 and 11 pips respectively and rewarding over 190 pips together.
For our second opportunity, we look down to the zone around 0.681 - 0.682; a zone roughly 11 pips wide. The HL point we are targeting would be more easily seen on the 1H or 2H but I drew the demand based off H4 candles. Once again, we see price break and retest this zone twice shortly after in a span of roughly 2 days. Our targets are always H4 and daily wicks. Taking all 3 positions would have afforded roughly 475 pips in about 15 days. The key here is to be able to see and mark daily and 4H previous structure points, without those you don't have a trade for this particular type of setup.
For more information PM me.
For our second opportunity, we look down to the zone around 0.681 - 0.682; a zone roughly 11 pips wide. The HL point we are targeting would be more easily seen on the 1H or 2H but I drew the demand based off H4 candles. Once again, we see price break and retest this zone twice shortly after in a span of roughly 2 days. Our targets are always H4 and daily wicks. Taking all 3 positions would have afforded roughly 475 pips in about 15 days. The key here is to be able to see and mark daily and 4H previous structure points, without those you don't have a trade for this particular type of setup.
For more information PM me.
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