AUDUSD, 09/09/15 @12:33 GMT

Pair is making a statistical validation plunge down to the Median Bollinger Band on H4 Time-Frame before continuing higher.

If you want to trade this move, do that from M15 Time-Frame. WAIT for a valid UP Correction there -Bullish Price/Tenkan Sen Cross- and Enter Short (SELL) when a bearish M15 candlestick closes below Tenkan Sen with Tenkan Sen and Kijun Sen both sloping Downwards. Place your SL above Kijun Sen plateau. STAY IN while M15 Candlesticks close below Tenkan Sen. EXIT when a Bullish M15 Candlestick closes above Tenkan Sen.

SELL@0.7028 SL@0.7044 TP@0.6971 <=== ALL price levels are hypothetical. See above analysis.

If you prefer to WAIT till price finishes interacting with Median Bollinger Band on H4, you should be looking to BUY on the condition that price either crosses or closes below Median BBand and reverses going higher, or it forms a spike that approaches/touches/crosses Median BBand. After that interaction finishes, BUY when a Bullish H4 Candlestick closes above Tenkan Sen, with Tenkan Sen going UPwards and Kijun Sen sloping UPwards too.

For BULLISH SCENARIO : BUY@0.7014 SL@0.6978 TP@0.7174

Happy pips!

Sofia

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