The market maker forms a trap on the chart by falsely breaking through resistance and attempting to break the support level. The price may continue to move in either direction after the liquidity is recorded.
The currency pair will rise towards the resistance and keep increasing toward 0.69500 if the price manages to return to the rising support; however, if the price breaches the support, it will collapse toward 0.65700.
Strong resistances: 0.67250, 0.6930
Strong support levels: 0.6650 (breakthrough strategy), 0.6560
Still I mostly expect the retest of the resistance at 0.67250 with the subsequent breakthrough and growth to the key liquidity area.
Please provide feedback below, and our team will review them.
IMHO, AUDUSD is currently trading between the support level of 0.66 and the resistance level of 0.68. Recently, AUDUSD broke out of a rising channel, with its daily lows edging lower, and currently trading below the March Monthly Candlestick mean level (0.66700).
Based on these observations, it appears that AUDUSD is under bearish pressure. If the 0.66 support level is breached, it is likely to push AUDUSD lower, possibly to a level of at least 0.65.
However, it’s worth noting that if AUFUSD breaks above the resistance level of 0.68, it could potentially reach a new high of 0.69.
if you think it was a “market maker trap,” then why do you think the A6 Australian dollar futures on the CME, a transparent market without market-maker brokers, showed the same thing?
why?
who are they?
why do they need to review what the members think in a beginners’ forex-trading forum?
why do you post all this stuff here but never reply to anyone who asks a question?
