AUDUSD 7 MONTHS MARKET CONDITIONS AND PHASES WALKTHROUGH 2
It so happened that the continuation of the March 2020 uptrend was a short one as it came to another distribution phase shortly after accumulation in late June. We see price push to the upside at the end of accumulation, possibly to gather liquidity by taking out traders who expecting a decline phase, had short positions. After the last upthrust, we will see price now head down in accordance with what comes after distribution.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.