Hi Alfonso and fellow traders..here is my analysis on AUDUSD...it seems to me that the scene is set to go long from Levels 1,2 or 3 labelled on my 4HR chart.
However I am doubting myself as we are so close to the weekly supply in the higher time frame . Please note the two horizontal lines going across the charts at 9284 and 9355 ...this is the proximal and distal lines from the Daily Demand speed bump in control..rally base rally.
Because the ascending trendline is not broken on the daily and 4HR we cannot go short on the Supply Zone just formed on the 4HR original and fresh..[.however we are coming off a Daily Supply zone and working our way to the Weekly Supply area..but the ascending trend lines have not been broken yet and the 4HR Supply area has not taken out previous demand on the 4 HR] .
So would I be correct to go long ,[ because of the location I have also assumed that this would be a confirmation trade only...however the levels [1 and 2 and 3] are fresh and original, but level 1 and 2 have not taken out previous supply, level 3 has. So is Level 3 the right place to buy from and is it set and forget because now we are in the Daily Demand Area level which is fresh and original????
I thank you for all your comments and I very much look forward to your valued comments on this one ....really appreciate them. Thank you.
However I am doubting myself as we are so close to the weekly supply in the higher time frame . Please note the two horizontal lines going across the charts at 9284 and 9355 ...this is the proximal and distal lines from the Daily Demand speed bump in control..rally base rally.
Because the ascending trendline is not broken on the daily and 4HR we cannot go short on the Supply Zone just formed on the 4HR original and fresh..[.however we are coming off a Daily Supply zone and working our way to the Weekly Supply area..but the ascending trend lines have not been broken yet and the 4HR Supply area has not taken out previous demand on the 4 HR] .
So would I be correct to go long ,[ because of the location I have also assumed that this would be a confirmation trade only...however the levels [1 and 2 and 3] are fresh and original, but level 1 and 2 have not taken out previous supply, level 3 has. So is Level 3 the right place to buy from and is it set and forget because now we are in the Daily Demand Area level which is fresh and original????
I thank you for all your comments and I very much look forward to your valued comments on this one ....really appreciate them. Thank you.