AUD/CAD new idea along with analysis.
It's been a while since I published anything. This is a new strategy that I maybe using along with my current strategy which is proving to be successful. However it is always good to have an extra tool in the tool box.
I'm looking at the AUD/CAD; using simple trend analysis I can see that from October 2020 this pair has been in a overall bullish trend with plenty of volatility.However since February 2021 when the price hit its last HH we see a price trend correction. we see the price trying to fight back with some resistance along the way, but on the 16th March the price its support line and we see a potential price reversal.
Using the MACD indicator.the lines are beginning to narrow and the histograms are quickly getting smaller and changing colour. The Squeeze indicator shows high momentum is likely to be at its peak. Again these indicators maybe showing that this bearish price correction maybe coming to an end. However, I will need to wait for confirmation for this by waiting for the MACD cross over to occur and the squeeze indicator to change colour.
We shall see whether my analysis is correct?
I'm looking at the AUD/CAD; using simple trend analysis I can see that from October 2020 this pair has been in a overall bullish trend with plenty of volatility.However since February 2021 when the price hit its last HH we see a price trend correction. we see the price trying to fight back with some resistance along the way, but on the 16th March the price its support line and we see a potential price reversal.
Using the MACD indicator.the lines are beginning to narrow and the histograms are quickly getting smaller and changing colour. The Squeeze indicator shows high momentum is likely to be at its peak. Again these indicators maybe showing that this bearish price correction maybe coming to an end. However, I will need to wait for confirmation for this by waiting for the MACD cross over to occur and the squeeze indicator to change colour.
We shall see whether my analysis is correct?