AUDUSD → The Market Maker Trap. What to do?

[skrimon]

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.

 

[Hardson]

I trade AUDUSD frequently because this pair is comparayively less volatile than others. Besides this pair, I also trade EURUSD, GBPUSD.

 

[Latham]

As part of risk management plan, try to trade with micro accounts with low leverage and spread on pairs. If you use hero account, the risk will be higher for you.

 

[LeoFx]

To maximize trading profits, traders have to focus on more and more accurate market analysis. Besides technical analysis, try to focus on fundamental analysis for better market forecast.