Possible Buyers are waiting at demand area to push the market up
Hello Fellow Traders,
I'm watching the AUD/USD closely as I have short position open from supply area (Green Box on my chart) but I will soon be taking my profits from these shorts and looking at possibly putting a buy order in just depending on what the market presents to me. There is not doubt that were going to get a massive rejection from this strong down trend from the past 12 hours as the markets start hitting demand area which is the red box area highlighted on my chart.
The big boys are possibly waiting for the market to go below 0.7969 where a lot of buy orders might be placed. I am going to wait for right now and just watch how it develops before I enter or put a buy order in but I am very confident that the market will go up in preparation for the AUD interest rate decisions next week that are expected to remain unchanged which in result will push the market down.
Take care and Good Luck.
I'm watching the AUD/USD closely as I have short position open from supply area (Green Box on my chart) but I will soon be taking my profits from these shorts and looking at possibly putting a buy order in just depending on what the market presents to me. There is not doubt that were going to get a massive rejection from this strong down trend from the past 12 hours as the markets start hitting demand area which is the red box area highlighted on my chart.
The big boys are possibly waiting for the market to go below 0.7969 where a lot of buy orders might be placed. I am going to wait for right now and just watch how it develops before I enter or put a buy order in but I am very confident that the market will go up in preparation for the AUD interest rate decisions next week that are expected to remain unchanged which in result will push the market down.
Take care and Good Luck.
Comment:
As I'm writing this price is now in demand area. So watching very closely now.
Comment:
I've starting taking some open short positions profits and I'll be taking all my profits from shorts very soon. If I am going to put a buy entry it would be at 0.7970 but I am going to wait for confirmation first.
Comment:
Price stalling in red box which is demand Zone, waiting for Asia session before I decide on what to do.