GBP/AUD 1H - As we can see above, we have had the penetration of a higher TF POI. This penetration will have introduced a-lot of Supply into the market which will hopefully flip the Supply and Demand balance instigating the creation of its next impulsive wave lower.
As the overall structure of this market is bearish we want to be looking for those sell positions. In order for me to execute a position in this market I will want to see a BOS to the downside take place as highlighted above.
This will give me the confirmation needed as this will tell me that the fractal corrective wave has finished and the creation of the next impulse is underway.
As the overall structure of this market is bearish we want to be looking for those sell positions. In order for me to execute a position in this market I will want to see a BOS to the downside take place as highlighted above.
This will give me the confirmation needed as this will tell me that the fractal corrective wave has finished and the creation of the next impulse is underway.