mcpeacocks
Short

Bearish Cypher on AU Daily

FX:AUDUSD   Australian Dollar / U.S. Dollar
there is a potential cypher forming on audusd             daily chart
not for scalpers this one - as SL is a generous 160 away, but the closest TP is 180pips down.
Trade active
Comment: finally a break out to the downside,
now a potentail cypher on lower TF to add to shorts
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:
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Hello traders,

please check this idea and comment:

Sincerely,
Trader
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