by MegaTrade101
The general consensus of a thinly traded market can only be viewed by the tightly-price action among the currency majors while waiting for a some reason that would dominate the market place. This is where traders obvious take is simply to stay on the sideline. Likewise for some, but not for institutional players that can simply position themselves before any market action takes place. Through a strategic process of deduction positions taken on the following has been initiated by MegaTrade101.com:
The general consensus of a thinly traded market can only be viewed by the tightly-price action among the currency majors while waiting for a some reason that would dominate the market place. This is where traders obvious take is simply to stay on the sideline. Likewise for some, but not for institutional players that can simply position themselves before any market action takes place. Through a strategic process of deduction positions taken on the following has been initiated by MegaTrade101.com:
AUDUSD LONG @1.05229 executed based from a 4 hour chart formation with a double bottom price @1.0515/15 levels on the way up within a 4hour trade session interval. Trend continuation moving forward with initial objective set above the 1.0580. Meanwhile the support levels is set @1.0500 even which is a good level to place a tolerable stop in case the market turns around to the other direction.
A daily close above the 1.0580 would signify a continuation of the trend higher. Volumes/OI have indicated some relatively new speculative trades from institutional players from the interbank market. Speculative retail trades have gotten some attention but with only a limited time frame for scalping a few pips from the price swings.
A daily close above the 1.0580 would signify a continuation of the trend higher. Volumes/OI have indicated some relatively new speculative trades from institutional players from the interbank market. Speculative retail trades have gotten some attention but with only a limited time frame for scalping a few pips from the price swings.
For a complete analysis of the trade, please click on the link.
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