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AUDCAD coming up to mitigate before sell off for OANDA:AUDCAD by teek_aay_

Working off the UTAD from a distribution that managed to break multiple structural points. Showing signs of bearish order flow on larger time frames. Price has been walking its way up past week or so which could be a sign of coming up to mitigate some order in an around this area. I have worked my entry points off the most volumest up candle before the bearish move which initially caused the break in structure. Marked up 50% and 80% of these certain candles and have managed to come a 15 minute candle and 80% of the 395 minute candle. I have set an alarm of this 395m candle to get me ready and also work out what I want to do when price reaches here. I’m anticipating market to mitigate the full 15m candle, therefore I have set my sell limits here risking 6.8 pips for a potential 42:1 ratio to run it down to bottom of structure. Also a 17:1 Sell limit at another point of structure where I think is a good spot to take partials. Through my backtesting I have noticed market movers love to bring price back/down to 50%-80% of an institutional candle which holds significance. That is why I always use these measurements when finding the most volumuest candle before the reversal candle because to me it shows that, big money have been pushing price heavily as much as 80% of that certain candle before changing their orders in the direction they were intentionally moving. Sooner or later they have to come back and mitigate these orders as they are in major draw down. But that’s my theory and the concept has been showing me great success. Lets see how this plays out. Happy trading fam!

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