After a beautiful trade on our previous setup, to the key level for TPs we are expecting to mitigate orders that have been placed by the intuitions at the OB down bellow where with SMC I will be looking for a long position and taking profits along the way if out entry gets tapped in
While we don’t dispute the various factors contributing to selling interest in the AUD/USD, historical trends suggest that when positioning and sentiment skew too heavily in one direction, the stage is often set for a significant position washout. A case in point is the nearly ten-figure rally from the October 2022 low of .6170.
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