AUD/USD (6-7/6-11) Weekly Analysis

2021年6月8日

Macro -
Weekly: Structure = Bullish / Flow = Consolidated
Market began this large range after a tap into a old monthly high in 2018. Lately its been slowing its momentum. We could be seeing a deep retracement CT to the downside, before going for price action higher.
Unless price closes past the Weekly LL, we stay bullish HTF.

Intraweek-
Daily: Structure = Mixed / Flow = Bearish
Previous Daily demand has been liquidated recently, creating a new daily/H4 range to the downside. Of course we are still in the weekly bullish range, so we want to be wary. Since we're partially bullish tho, I want to look for a continuation to the downside into the WEEKLY demand, if price respects the current Daily Supply.
If price breaks the Daily Supply, we can look for Longs to the 2nd Daily supply, and watch price action carefully.

Intraday-
H4: Structure = Bearish / Flow = Bearish (still in HTF consolidation range, so this is not FULLY confirmed, be wary!!)
Price is in a 2nd Bearish leg, breaking structure to the downside (took Daily demand liquidity)
Because of this transition, we have a chance to follow price into H4 Low, AND/OR Weekly Demand. Will be wary and knowing that price will likely want to fake me out on this "lower" HTF. Currently in a Sell to take price to the Daily Demand, will be partialling along the way.

Have a great trading week Kings.