Hey Traders, sorry have been away for a few days.
Today, our analysis is on AUDCAD.
This setup will take a few days, so be patient as I am posting this before the start of the trading week.
AUDCAD has been in HEAVY CONSOLIDATION since the beginning of January 1st. 2018.
I have marked off my Weekly Resistance Level at 0.95750.
I have marked off my Weekly Support Level at 0.94500.
Basically, I am waiting for price to reach either Resistance or Support levels, then wait for a STRONG confirmation candlestick or confluence to let me know that price is moving in that direction.
I believe that if we are to finally break through either Resistance or Support levels then we can expect a very big move as this pair has been building up momentum for a big decline or rally up!
As always, please leave comments, questions or concerns!
Thanks again,
#ForexFargo
Today, our analysis is on AUDCAD.
This setup will take a few days, so be patient as I am posting this before the start of the trading week.
AUDCAD has been in HEAVY CONSOLIDATION since the beginning of January 1st. 2018.
I have marked off my Weekly Resistance Level at 0.95750.
I have marked off my Weekly Support Level at 0.94500.
Basically, I am waiting for price to reach either Resistance or Support levels, then wait for a STRONG confirmation candlestick or confluence to let me know that price is moving in that direction.
I believe that if we are to finally break through either Resistance or Support levels then we can expect a very big move as this pair has been building up momentum for a big decline or rally up!
As always, please leave comments, questions or concerns!
Thanks again,
#ForexFargo
Trade closed: target reached