AUD/USD LONG POSITION POSSIBLE

Level trader prediction!!!!

For those who don’t know what trading in levels is, its when you find areas in which price likes to frequently touch and trade in those levels. For this particular pair and exact moment i have levels set at .77000 and .78000. You will find that price likes to recreate previous movements over periods of time. The idea of trading in levels is that once price enters a level it will at some point get to the next. Wether that’s a long or short position price will touch one of those levels at some point in time. Here we have price in a down trend channel, which was just broken. When price breaks a trend its important that price will come back to retest that trend before make its push towards its desired area. Price broke the trend at .77543 before consolidating for a short period of time above .77600. I believe price will come back to retest this trend then push towards .78000 there is a chance price could double back and push down towards the .77000 but if so there would need to be a full candle finish under .77300 for shorts down to .77000

Entry would be at .77700 for buys up to .78000

This break down was done on a 15 min time frame, major levels drawn on H1 chart smaller inner levels don’t on the 15min.

Hope this was helpful!!