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
Victor.Y.F
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Thank you EXCAVO! could this pair's going like last year after the first hike?
SaeedRehman
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Good Find - This helped me apply method and it looks good from both views
taksistalo
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Nice =) Feels good when its finally happens and you on top of it =)
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