Another very nice volume accumulation setup is currently on the EUR/GBP. What I like about this long level is the aggressive rejection of lower prices which occurred right before the start of the trend. This shows the strength of buyers who rejected lower prices and pushed the price upwards. Those buyers were accumulating their positions in the rotation area before the start of the trend.
When the price makes it back to this level, those buyers will most likely defend their positions and they will push the price higher again.
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The level was tested... Thats why i cancelled this level. There was nice reaction but sooner.