GBP/AUD 15M - Hey guys! I hope you are all well this morning and enjoying some of the profits from this market to those of who you jumped onboard yesterday, as you can see price looks to be correcting itself at the moment, this gives us an opportunity to re-enter.
I would love to see price trade up and into the Supply Zone, for Supply to be introduced and for Demand to be offloaded in the market, this should give us the S&D flip we want in order to see price go on to trade us lower giving us the next bearish leg.
I have set a Sell Limit for the zone above, the SL & TP targets can be seen on the screenshot above. This is a pre-emptive way of doing things but what this does do is avoid us missing the entry.
For us to actually get the confirmation of the next bearish leg we want to see a BOS in and around the area after the penetration, this is what confirms the end of one trend and the start of another.
I would love to see price trade up and into the Supply Zone, for Supply to be introduced and for Demand to be offloaded in the market, this should give us the S&D flip we want in order to see price go on to trade us lower giving us the next bearish leg.
I have set a Sell Limit for the zone above, the SL & TP targets can be seen on the screenshot above. This is a pre-emptive way of doing things but what this does do is avoid us missing the entry.
For us to actually get the confirmation of the next bearish leg we want to see a BOS in and around the area after the penetration, this is what confirms the end of one trend and the start of another.
