AUD/USD - Simple FIB Survey @ 3W

3 Feb

Dear Friends,

How I survey unknown territory:

Should price continue down, where is the next potential bottom?
Zoom out to 1W or 3W or 1M TF's. Use you FIB as indicated.
78.6% is a high probability area for the next bottom,
should selling pressure continue !

Alternative possibilities:

Firstly, price have potential to fill the gap and then continue down
A bull trap as I see it.
or
Price may actually fill the gap and hold demand which will activate
our green thesis.

**Which could fundamentally mean institutions have dipped in liquidity
pre-swing reversal.

Keynote: DO NOT BUY BELOW 0.62000!

4 Feb

Nota

Yesterday candle did close above 0.62000.
I believe the gap down was n liquidity dip pre-reversal.
Price is currently testing 0.61800 - 0.61600 demand zone.
For safety I will rather look for a long entry above 0.62000.

I will be even more confident in the "GREEN/LONG" thesis if DXY remains below 108.000!