possible short soon. ac reached the resistance trend line. also price is at the suppport level atm 1.272 (.97140). nex 8hrs to confirm going down or not. in my view only i can see it going down. pl dyor
Comments
Trader_Dale
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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
thisisme1981
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@Trader_Dale,
G'day Mate. First of all thank you and I kindly appreciate you sharing your view and taking time to explain your chart. I look forward to looking and learning from your charts and analysis.
Kind regards
AlexBalboa
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i also think its going down.... using Fibonacci from last lower high to the last lower low price just rejected the 50.0 level
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