I would like to explain this with better explanation with more charts through the weekend to help you understand better the trade idea and stops with potential targets.
I would like to explain the reason behind the second chart failure to engulf was seen below the source of first engulf and finally when it was engulf it hold on to price and location S/R flip twice & that was good reason to set sell limit around the area of first locationo of S/R flip.
Tricks were played out twice & I would explain the reason behind trapping traders and how to locate these areas with limit orders. Stay tuned for more charts of this type & learn the art not trading.
Why I called forex Liquidators the world’s best Trickers
You hear it right !
I use to call Forex liquidate providers the world’s best tricker & reason being they always suck orders from market & then give it a go when there are no need to rush & price turns exactly opposite direction when turn comes to safe entries.
Order did not manage to get excecuted but still I’ve pending orders at the level which will remain Activate till Monday U.S Session close.
Techncials update of Aud/usd
Take a look at the chart first. Price is reacting to the zone and I would expect that zone will hold as .7089 area is the strongest of support turned resistance and ultimate target will be 120 pips & stops around 30 pips higher.
Trade Well & Best of luck USD bulls.