On AUDUSD, we've already witnessed a Fibonacci retracement from the last low, capturing liquidity at the high with a bearish candle showing a top wick (deceleration).
The retracement unfolded smoothly with significant bearish candles (indicative of profit-taking), but we retraced all the way to the H1 W Support, respecting it with long bullish wicks.
I'm considering a golden 0.5 retracement, possibly even a 0.618. However, I won't be entering any positions in these zones; instead, I'll be patiently waiting for potential buy zones.
The retracement unfolded smoothly with significant bearish candles (indicative of profit-taking), but we retraced all the way to the H1 W Support, respecting it with long bullish wicks.
I'm considering a golden 0.5 retracement, possibly even a 0.618. However, I won't be entering any positions in these zones; instead, I'll be patiently waiting for potential buy zones.