LAT
Short

AUDUSD - Trading with the trend

FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Daily timeframe . Rebound from the 3 year down trendline . Waiting for a breakdown of the countertrend line and support. Stop placed above the previous price action high and long term down trendline . Target is the next support level and previous low. With potential further targets at 0.7351 and 0.7179.
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:
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out