On the AUDUSD I'm looking to enter short at current market price as soon as the markets open in a few hours based on the candle rejection off the trendline . The blue line is a trendline , the red lines are an AB=CD projection.
Based on Market Profile (volumes) and Price Action there is very strong swing support at 0.7246. There was about 2 week rotation where the big players accumulated their long trades and then moved the price agressively higher. You Can see this strong trading activity even on yearly volume profile!
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis:
FelipeCaldas
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Trade Fail, stopped.
11021992
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@FelipeCaldas, Yes, we hit the stoploss. Can't win 'm all.
jojofang0901
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Beautiful trade setup, thank you for sharing your idea. I have similar view as well on this pair, executing it on intraday chart.
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis: