Here we see a possible set up on the 1-hour Timeframe for AUDJPY. The price is currently creating a Bearish Wedge/Flag pattern on the 4-hour timeframe.
Marked in Green we have a fresh level of Supply which is clearly visible on the 1, 2 and 3 hour timeframe.
I would like to see this Supply Zone (which is also a key institutional level @ 74.000) broken to the upside which would bring the Retail Buyers into the Market before 'Smart Money manipulation' occurs and the price is pushed back down.
Me personally i am holding out for the 'Fake out' of the zone, a bearish move then retest of around 73.950 before i enter sells.
Nice 1:6RR possibility so lets see how the market unfolds.
Note - These are my views on how i would like the market to play out, this is not to be taken and a signal/financial advice.
Marked in Green we have a fresh level of Supply which is clearly visible on the 1, 2 and 3 hour timeframe.
I would like to see this Supply Zone (which is also a key institutional level @ 74.000) broken to the upside which would bring the Retail Buyers into the Market before 'Smart Money manipulation' occurs and the price is pushed back down.
Me personally i am holding out for the 'Fake out' of the zone, a bearish move then retest of around 73.950 before i enter sells.
Nice 1:6RR possibility so lets see how the market unfolds.
Note - These are my views on how i would like the market to play out, this is not to be taken and a signal/financial advice.