This zone has caught my Eye On AUDUSD Will be watching and waiting
zone to zone 618 fib reached, oversold RSI, 1.27 lines up with a fresh supply zone
Price has pushed unto a fresh zone on the 30/ 1hr. 4hr chart RSI is oversold on the 30min chart Order set at 1.2970 35 risk v 311 reward
AS we can see there is a good 2:1 long setting up on the EURUSD. Price has pushed down to the untouched zone and we are seeing more buying pressure froths level. The 2 hour chart shows a strong moved down with that engulfing candle which will offer little resistance to the upside at around the 1.15200 level
Looking at where price is there are a few levels that are jumping out. The first area is the 1.17400 level, there was a strong move down from this level, looking left however there has been a lot more activity in this area which leads me to believe that although there could be a good opportunity here there is a better and untouched area at 1.19250 area. If...
The 1.12000 level has only just been touched and rejected so this could offer another area to get long. However the untouched area that would offer a better low risk chance of a turn would be down at the 1.10200 level. The highest point offering great shorting opportunities is way up at the 1.22800 area
Im currently in a short sell from the current zone at the 1.14500 level entry was at 1.14600 my Target is 1.13800 The reason Is this has the highest probability of being hit. After this area we have got a demand zone which has been used twice already, potentially this could now fail and see prices push to the lower zone on the daily at the 1.12100 level. I...
Having a look a the bigger picture on the 4hr and daily I have closed the Long Trade I had. Looking at the Daily there potentially is a further drop of around 50 pips before we could see price rally up. When price last tested the 109.800 level price had a larger 475 pip move to the upside. This zone was rejected instantly the first time it was tested and due...
Price found the 1.14500 level this week as a hard area to push past, overtime price got to the level it found strong selling pressure. For the most part price has been ranging between 1.1§300 and 1.14500 Two areas that I have got my eye on are firstly the lower Demand zone at 1.12200 when price found this area last, there was strong buying pressure and shows...
Having a look at where price is currently. Price has been finding selling pressure at the zone in the middle at the 1.2700 level. The first 2 touches of this price has shown that there are a lot more selling, further to this on the 3rd attempt at this zone, price found pressure a few pips lower. Between 1.2700 and 1.2600 price has started o move sideways with...
If price pulls back into the new zone I have a order set 5 pips above to ensure entry Target Zone is a fresh zone on the 4hrs chart
Short Order Pending at 143.480 T1: 78 pips T2: 156 pips
Using Multiple TF's Entry was determined on the 5 /15 TF Sell stop set at 142.48 Target 1 is a 1:1 Risk T2 extended target at recent structure lows
Trend continuation tekkers done from 4hr charts downward which imo provides a good probability of price reversing at this level. Orders placed at 1.16244 if they get filled will update