Australian dollar is on its way to test the important support around 0.9200
*** here is a another update on Australian dollar movement. It is "Range bound" this week and we can possible see a test of high but as far as I am concerned we should be shorting rally now. Reason behind that setup is we have seen no momentum when pair falls and any upside rally lacks momentum
*** As I have earlier mentioned in my posts that when we saw strong patterns which don't get any follow through and buying and selling on support is probably weak holders effect and that is the reason I didn't post that chart but earlier liquidation candle followed by weak buying candles giving us a clue that possible top is in place around 0.9440 area.
*** We always look for the contribution of the strong holders and who are those holders, chart give us clue always. It's hard to spot "big player" but one thing will help you. Address yourself a question - who loses on the market? Who is caught in short or long positions? If you understand that long players are losing, you automatically know that bigger timeframe short player opposes them. Smart money players create imbalance and absorb volumes.
