GBP/AUD 1H - This is another pair I am expecting to see bearish structure from. I want to see the introduction of Lower Highs and Lower Lows being introduced into this market.
We are currently seeing price begin to correct itself after the initial BOS to the downside, this is where we can expect to see price set its Lower High from, this is somewhere we can look to place our shorts from.
In order for us to deem a valid entry we will want to see price trade up and into an area of interest I have marked out for us, once price penetrates we expect price to break structure fractally to the downside again for the second time.
This second BOS is the one that confirms the end to the initial correction and gives us the confluence needed in order to take part as we have the means to suggest the next impulsive wave lower is ready to take place.
I will be holding off until I see a valid penetration, rejection and BOS to the downside from a valid area of interest. Once we have that we can look for short opportunities.
We are currently seeing price begin to correct itself after the initial BOS to the downside, this is where we can expect to see price set its Lower High from, this is somewhere we can look to place our shorts from.
In order for us to deem a valid entry we will want to see price trade up and into an area of interest I have marked out for us, once price penetrates we expect price to break structure fractally to the downside again for the second time.
This second BOS is the one that confirms the end to the initial correction and gives us the confluence needed in order to take part as we have the means to suggest the next impulsive wave lower is ready to take place.
I will be holding off until I see a valid penetration, rejection and BOS to the downside from a valid area of interest. Once we have that we can look for short opportunities.
