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AUD/USD: Hawkeye WideBar Creates Respected Supply Zone

Speciale Analysis

Hey Trader,


A Message of Strength for Your Trading Journey


I hope this message finds you well. As we navigate the ups and downs of the market, it's crucial to remember that we are not alone in our endeavors.


"So do not fear, for I am with you; do not be dismayed, for I am your God. I will strengthen you and help you; I will uphold you with my righteous right hand." - Isaiah 41:10


This verse serves as a powerful reminder that no matter the challenges we face in our trading journey, we have a source of unwavering strength and support.


Let this assurance empower you to face the market with confidence and resilience.


Keep faith in your abilities, trust your strategies, and remember that you are supported every step of the way.


Be Relentless In Pursuit Of The Will 

Which God Has Set Upon Your Heart,

Anthony Speciale



AUD/USD: Hawkeye WideBar Creates Respected Supply Zone


Hello, fellow traders! Anthony Speciale here with Hawkeye Traders.


Today, I want to dive into an insightful analysis of the Australian Dollar/US Dollar (AUD/USD) currency pair, showcasing how the Wide Bar indicator sets the stage for identifying supply and resistance areas.


This analysis isn't just theoretical—it's a practical demonstration of how you can apply these principles to your trading strategy for improved outcomes.


The Importance of the Wide Bar and High Volume


Let's start by zooming in on a crucial aspect of this trading session.


I've marked off two specific candles on my chart, focusing on their wicks and the accompanying ultra-high buying volume. Here's why these elements are critical:


  1. Wide Bar with High Selling Volume: One particular candle stands out due to its significant selling volume, indicated by a red volume radar dot and an extensive wick. This wide bar signals potential resistance or supply for the rest of the session.

  2. Supply Area: The wick of this wide bar establishes a supply zone, causing price action to struggle within this area and eventually push to the downside.


By closely monitoring these high-volume areas, you can anticipate market movements more accurately. In this case, after testing these levels, the price broke through the previous lows, leading to a substantial selloff.



Utilizing Trend Lines and Volume Indicators


To pinpoint where the price might break down, I often use trend lines alongside volume indicators. For instance:


  • Connecting Lows: By drawing a trend line connecting key lows, you can better predict where the price might face resistance or support.

  • Break and Retest: Although in this scenario, we didn't get a retest after breaking the trend line, the setup still indicated a strong bearish trend.



The Hawkeye system simplifies this by providing clear signals—like ultra-high selling volume and wide bars—that prompt you to pay attention to specific price actions.


chart analysis

The Power of Volume and Price Action


My years of trading have taught me one vital lesson: volume and price action are the most reliable indicators of market behavior. Here's why:


  • Consistency Across Markets: Regardless of whether you're trading stocks, futures, forex, cryptocurrencies, or options, volume and price action remain relevant.

  • Adaptability: These principles apply to various trading platforms, including Ninja Trader, Trade Station, TradingView, and MetaTrader.


By focusing on these elements, you build a robust trading plan that adapts to different market conditions. This approach has provided me with consistent results over time, and I believe it can do the same for you.



Recommendations for Traders


If you're not currently employing volume and price action as your primary trading tools, I strongly encourage you to start. Here are some steps to get you on the right track:


  1. Get the Right Tools: Invest in Hawkeye indicators if you haven't already. These tools are designed to help you interpret volume and price action effectively.

  2. Education: Take advantage of the Hawkeye Mastery videos. These resources are invaluable for deepening your understanding of market dynamics.

  3. Practical Application: Whether you're day trading, swing trading, or position trading, apply these concepts consistently to see better results.



It took me over a decade to refine my approach, and now I'm sharing these insights with you. Embrace these principles, integrate them into your trading plan, and watch your trading performance improve.


Thank you for taking the time to read this post. I appreciate your dedication to becoming a better trader. Click Here to master Volume with Hawkeye Tools NOW


God bless, and I look forward to sharing more insights with you in future posts.



Happy Trading,

Speciale Analysis

 
 
 

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