AUD/USD - Simple FIB Survey @ 3WDear Friends,
How I survey unknown territory:
Should price continue down, where is the next potential bottom?
Zoom out to 1W or 3W or 1M TF's. Use you FIB as indicated.
78.6% is a high probability area for the next bottom,
should selling pressure continue !
Alternative possibilities:
Firstly, price have potential to fill the gap and then continue down
A bull trap as I see it.
or
Price may actually fill the gap and hold demand which will activate
our green thesis.
**Which could fundamentally mean institutions have dipped in liquidity
pre-swing reversal.
Keynote: DO NOT BUY BELOW 0.62000!