Two months ago I posted my prediction for AUD/USD on the daily timeframe, this is a continuation. If you are not already in on this trend this is an excellent area to short, price is currently sitting on a major level of resistance and possibly creating a lower high.
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This right here was my entry point into this trend continuation, bearish crab on the 15M chart. If you look at the pattern below it was exactly to the pip, not even 1 pip above or below providing an excellent shorting opportunity.
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:
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: