Here on the D1 timeframe I see a fine Wyckoff schematic playing out (Accumulation), with just the Creek remaining to get taken out which would consequently resort to taking out the daily Highs. Just moments ago, the H4 Lows were taken, with price reacting perfectly to an M15 Point of Interest and shooting all the way up off the back of some inflation data from the United States. With this move we have a potential LPS to enter off of to take the prices long (on the H4) for a very good rally.
Why .71000?
Personally i see no sufficient imbalance on price action looking to the left that would solidify any potential reversal points before this price point; so in my eye, i see that as some buy side liquidity to be taken by the smart money up until the supply zone sitting just above the .71000 area
Hopefully this plays out beautifully, I would start looking for multiple entries once the D1 Highs are broken. Stay safe and trade safe.
And don't forget to give a follow and a like.
AUDUSD
Why .71000?
Personally i see no sufficient imbalance on price action looking to the left that would solidify any potential reversal points before this price point; so in my eye, i see that as some buy side liquidity to be taken by the smart money up until the supply zone sitting just above the .71000 area
Hopefully this plays out beautifully, I would start looking for multiple entries once the D1 Highs are broken. Stay safe and trade safe.
And don't forget to give a follow and a like.
AUDUSD