Hey guys,

Carrying on from yesterday’s AUD/USD trade setup, take a look at the following extract:

AUD/USD Hourly

IF the higher time frame level holds of course. If it doesn’t, then that’s still your level to manage your risk around, just do it from the other side.

Now bring up a live Aussie chart and you can see that price dropped straight through the higher time frame support zone:

AUD/USD Hourly

It’s for this reason that I wait for a higher time frame level to hold or break before taking a position on an intraday retest.

In this case, you can see price went through the higher time frame level, putting shorts in play, then gave an intraday retest of previous short term support turned resistance for an optimal risk:reward entry.

Safe trading!

Peace ✌🏻.

Return from AUD/USD Through Support. Gives Chance to Short to forexbrokr's Web3 Blog