A terrific trading session which once again had so many lessons for traders in all timeframes, emphasizing the power of volume price analysis and supported by the Quantum Trading tools and indicators.
As so often happens at the session crossover periods, reversals take centre stage as the market makers move in to trap traders into weak positions. Putting Brexit to one side, the focus here was on the commodity currencies and in particular the cross-currency pairs of the euro, the Aussie dollar, and the Canadian dollar.
The forex market is one of mean reversion and none more so at these times, when the market makers are at their most active. For the EUR/AUD the solid bearish trends intraday were duly reversed, but as always it's a question of identifying whether this is a change from a primary bearish to a primary bullish trend, or simply from a primary bearish to a secondary pullback or reversal before the primary is re-established once again....
