AUDUSD

Retest back into a strong demand / support, possible retracement, long opportunity. 

Stuff to remember: 

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further 

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly 

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future 

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak 

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run 

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms 

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance 

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is