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Trader_Dale
Aug 26, 2018 5:10 PM

AUD/JPY short from 82.25 

Australian Dollar/Japanese YenFXCM

Description

The main reason behind this short level is Volume accumulation setup. Heavy volumes were accumulated in a rotation area (marked in black rectangle). After that, the price shot aggressively downwards which indicates that the heavy volumes were mostly volumes of strong sellers. When the price makes a pullback into this significant area again, I think that the sellers will try and defend their short positions and that they will push the price lower.
Comments
Pirate_Hook
I do not see any black rectangle.
korankye11
bought your book. very very interesting Dale. Thanks so much for the eye opener. thank you.
Trader_Dale
@korankye11, Great news!! Thank you and happy trading :-)
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