AUDUSD Short with Confluence Zone *Educational Purpose*
So, this trade I'm using the Confluence Zone.
(The trend of the weekly TF is still in a down trend, but in the hourly it's in an uptrend.)
- But last week, the price broke the structure to the downside (leaving the supply zone). So, this plan will play along with the smaller TF trend.
- The price forms the rising wedge pattern.
- I'm using the Fibonacci tool with Supply Zone
- Confluence with Resistant
*Wait for Price action or Smaller TF Divergence for Confirmation*
(The trend of the weekly TF is still in a down trend, but in the hourly it's in an uptrend.)
- But last week, the price broke the structure to the downside (leaving the supply zone). So, this plan will play along with the smaller TF trend.
- The price forms the rising wedge pattern.
- I'm using the Fibonacci tool with Supply Zone
- Confluence with Resistant
*Wait for Price action or Smaller TF Divergence for Confirmation*