AUDUSD → The Market Maker Trap. What to do?

[Prince Sajir 1]

 

 

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.

 

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