FX:AUDCAD   Australian Dollar/Canadian Dollar
Price often creates Sine Waves.
These SW's have centers, which get broken very often.

Here we can observe that price did break the smaller SW already.
But there is also a bigger one cooking.

Let's see if price has the juice to break this one also and if we
can manage to take a short ride with price.

Patience...patience...

P!eace ;-)
Comment: Break of the L-MLH and a first test.
The rules tell us, that the market could make another test at the L-MLH (retest).
Next target is the L-MLH of the white fork:

snapshot
Comment: ...on the way to L-MLH.

snapshot
Comment: L-MLH was fantastic support.
Now up to the Centerline.
Comment: Tidal movement, wave movement...it's just moving...

snapshot
Pretty dam good: http://imgur.com/a/jQ0Pu
Reply
forker PRO IvanLabrie
hahaaa! §8-)
Reply
Thanks for your great analysis!
Here is my view on AUD/CAD if you are interested:

Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see 3 main volume areas. The biggest one in the middle (around 0.9850) is POC - point of control of the year. It could be used as a magnet (place for profit target) for both of the positions.
Both the volumes around 1.003 and 0.972 made the markets move. Now I think that the market participants that created those 2 Volume clusters will still be active when the price reaches those areas again and move the price again.

There are more Market profile swing and intraday analysis at my profile page. You are very welcome there!
Dale
AUD/CAD swings based on Market Profile and Price Action
Reply
forker PRO Trader_Dale
@Trader_Dale, Hi Dale. Thank you very much for your analysis. Alltough I have no understanding about this technique, I find it interesting looking at other methods. It looks kinda simple and clean.
Wish you good success and feel free to chime in anytime you like.

Cheers :)
Reply
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