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LeonardoModi
Jan 12, 2017 3:39 PM

IT IS GOOD TO SELL ON STRONG RESISTANCE Short

AUSTRALIAN DOLLAR / U.S. DOLLARICE

Description

AUDUSD is approaching a strong resistance, so I enter short at 0.75

Trade active

Trade closed manually

Trade closed at 0.745 because of dollar weakness.
+50 pips
Comments
Trader_Dale
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:
LeonardoModi
@Trader_Dale, Thanks for you comment! It can be possible!
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