AUDJPY long investigation on H1

Looking to the left, there is a low that has been stophunted and engulfed before. Price likes to visit such areas. The area is also a Level 1 area within a larger area of accumulation. We also note that the moves of 3s are not clearly recognizable on H1. It is proper to consider the moves as two levels down completed. We can see the tracks of traders being trapped today at the lows, indicated with circled pins. It is also obvious now that price is going sideways and we are not to expect much for a long, not today. Do not waste time sitting at your desk waiting for a move this time.

However, for a trade there are other considerations, we shall see that later, so let’s move on to the M15 TF. I will skip the M30 and the M5-M1 TFs, although those are to be considered for an entry as well.