I have been looking for longs on this AUDUSD since last week but wasn't very successful. Well it looks as if they are ready now.... I am looking at the 0.75550 Area as potential target.
Enough games? Are they ready for a 20-30 pips drop or will they keep playing around?
It is looking like a regular MM cycle. - 1.5-2 days of move in one direction (False Move beginning of week) -Mid-week reversal (Wednesday) -Thursday price came slightly down but respected Wednesday's lows -Multi-session W We should see a move up today into tomorrow London's session. "The patterns repeat themselves with statistical reliability BUT the OUTCOME...
They are obviously accumulating and preparing for the 2PM news but I think that we will see price dropping towards the lows they set on Monday/Tuesday. Just an idea. Anything can happen :)
I had some doubts about GU for today. But if I follow the weekly cycle, it makes sense for a long. Yesterday (W) price made a reversal, so I am trading in the direction of the mid-week reversal.
Long on CADJPY today. The setups repeat themselves with statistical reliability BUT the outcome that the pattern is predicting is RANDOM. -Mark Douglas"