With the channel reaching one of its ends, I put a Fibonacci retracement on the pullback and found a great entry point that joins with the 261.8 Fibonacci area!
Thanks for your great analysis!
Here is my view on AUD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see 3 main volume areas. The biggest one in the middle (around 0.9850) is POC - point of control of the year. It could be used as a magnet (place for profit target) for both of the positions.
Both the volumes around 1.003 and 0.972 made the markets move. Now I think that the market participants that created those 2 Volume clusters will still be active when the price reaches those areas again and move the price again.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there!
Dale
Here is my view on AUD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see 3 main volume areas. The biggest one in the middle (around 0.9850) is POC - point of control of the year. It could be used as a magnet (place for profit target) for both of the positions.
Both the volumes around 1.003 and 0.972 made the markets move. Now I think that the market participants that created those 2 Volume clusters will still be active when the price reaches those areas again and move the price again.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there!
Dale