PREPARING FOR THE NEXT SHORT OPPORTUNITYAUD/USD 1H - This is the third market I am looking at tackling this week, as you can see I have gone ahead and set an alert just below a key area of Supply I feel price may come to trade up and into.
Once price trades up and into the respected zone we want to see price reject well from it, showing signs of weakness to the upside, this will suggest enough Supply has been introduced to flip the balance. As we know confirmation would come via a break in structure more fractally.
Once we have that we can then begin looking for areas to enter in short on this market, once we have broken a protected low set from the bullish correction price is bound to trade back up correcting itself initially before a further down move. Its important that we find areas at which price may trade up into before going lower.
We can find this more fractal area of Supply by looking at the impulsive wave that broke the structure initially for any areas that may have been left unmitigated, this is where we can look to enter in from.