(Click on image to enlarge)
Source: Admiral Markets MT5 with MT5SE Add-on
The AUD/USD broke below the consolidation pattern that started a retracement. The Shooting start that was formed at the W H4 could end the retracement spurring another short sell. The rejection from the POC zone ( 0.7340-60) targets 0.7300, 0.7260 and will eventually reach 0.7196.
W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Monthly Camarilla Pivot (Monthly Support)
M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
POC - Point Of Confluence (The zone where we expect the price to react - aka the entry zone).
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