DislikedOk folks,
So here is a setup that I'm not sure whether to play or not. BEOB on the daily audusd.
1. Would you classify this as an A trade ?
2. There's nice fib and ppz confluence above or middle of the bar
3. But there's minor ppz, support and resistance at .6750, at break of the bar
Would you wait for a break and retrace or pure break ? Perhaps its in a little too much traffic.
Appreciate your thoughts,
Joe
ps. also applies to BUOB on the USDCADIgnored
Its not at an extreme High but a new high none the less. Nice supporting confluences there. I would take it at the break.
If a retrace occurs, look for the low of the previous bar (green line). If it respect that level it looks good.
Attached Image
Indicators show the past. Price Action "Indicates" the future.