AUDUSD - Bullish Shark Completion

FX:AUDUSD   澳元/美元
Hey guys, I just got back from my vacation and am excited to get back to chart time.

Pattern Identification

Bullish Shark @ 0.7485

Trade Execution

I will monitor for price rejection at 0.7485 first before entry.

I would want the volume when it reaches the PRZ zone to be lower than the volume when it initially tested that zone at around 19/4/2017.

My entry will be at the close of the first green bar after the PRZ zone is tested.

SL will go at 0.7455
TP1: 0.7547
TP2: 0.7595
评论: Yes it gapped up. However this idea is still valid. Do wait for price to hit PRZ before we decide whether to go long.

Price is right there at our PRZ.

In 20 mins, I will enter long if the candle closes with a nice long body.

I want to see volume being low to average.

Patience is paying off.
评论: changed my mind, price should go above PRZ before long. Still waiting for one final push above prz.
评论: Still waiting for price to break above PRZ before going long. This setup is still valid.

I like the volume activity at the PRZ.

Will keep you guys posted.
I trade with Harmonic patterns and VSA. Follow me along my trading journey at http://terryhexiejiaoyi.com.

Currently will only blog in mandarin as most of my fans are based in China.
Hey man, I hope you're doing great as usual, I wanted to know why you always wait for price rejection first before you take the trade. I was guessing maybe soon as you see the T bar comes then you can go ahead and take the trade.
@Anilov20, the PRZ zone only means a zone when price can potentially reverse. So it is important to see stabilization or rejection of the zone before we enter.
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