My bearish sentiment on AUDUSD are backed by the following
confluences-
1) Market structure (BoS), 2) OB-supply, 3) Imbalance, but I await my fourth(4th) confluence which is Take Profit Liquidity(trendline liquidity), which will make it at least a 4/5 of my confluences before i can execute.
So my markups are done on the 4hr timeframe which is my major
higher timeframe (HTF) used.
So price has successfully broken structure lower showing a
continuation in the bearish trend, and I will be expecting price to
retrace back up to first fill up the imbalances, where this retracement of price back to my point of interest happens to be my Liquidity which is my 4th confluence I’m still looking out for if it will emerge or not, and after that I’ll be
waiting for price to reach my main point of interest which is the
supply above to mitigate it. If price successfully
reaches my supply zone and tends to respect that
supply zone, I’m expecting two things to likely happen there which are either
price sells off immediately which I’ll already be in on the trade with my first entry placed at the mid range of the supply or it gives me my basic entry structure on the lower
timeframe which is a-higher high,higher low, higher high and then a lower low. Then if this emerges successfully I’ll have my second entry placed on any supply formed on the lower timeframe. Where on both entries I’ll be targeting a minimum of 1:3 each as profit target.
Note: the financial market is all about probabilities, which also
makes my analysis a probability.
confluences-
1) Market structure (BoS), 2) OB-supply, 3) Imbalance, but I await my fourth(4th) confluence which is Take Profit Liquidity(trendline liquidity), which will make it at least a 4/5 of my confluences before i can execute.
So my markups are done on the 4hr timeframe which is my major
higher timeframe (HTF) used.
So price has successfully broken structure lower showing a
continuation in the bearish trend, and I will be expecting price to
retrace back up to first fill up the imbalances, where this retracement of price back to my point of interest happens to be my Liquidity which is my 4th confluence I’m still looking out for if it will emerge or not, and after that I’ll be
waiting for price to reach my main point of interest which is the
supply above to mitigate it. If price successfully
reaches my supply zone and tends to respect that
supply zone, I’m expecting two things to likely happen there which are either
price sells off immediately which I’ll already be in on the trade with my first entry placed at the mid range of the supply or it gives me my basic entry structure on the lower
timeframe which is a-higher high,higher low, higher high and then a lower low. Then if this emerges successfully I’ll have my second entry placed on any supply formed on the lower timeframe. Where on both entries I’ll be targeting a minimum of 1:3 each as profit target.
Note: the financial market is all about probabilities, which also
makes my analysis a probability.