Roker1

AUDCAD now it's a buy

Long
FX:AUDCAD   Australian Dollar/Canadian Dollar
Hey guys,
yesterday we took profit of our last AUDCAD trade that brought in more than 150 pips (see attachment). Now i changed my mind about this pair being the recent movements price has made. As you can see on the left hand side of your screen on the daily timeframe price is testing a daily structure level that acted as support. Being the case, we expect to see some difficulty breaking through. In the lower timeframe (4H-right hand side) price's put an engulfing candle with RSI OVERSOLD, right at that level which happens to be also a psychological number.
With all those conditions met i think this could be a good opportunity to buy the market hoping for a retest of the higs at 1,070.
Good luck!

If you have any question, feel free to write below.
Otherwise, see you in the next chart!
Trade closed: target reached: Target1 hit!
Comment: Stop moved to 0,9930. Banked in some more profit. Let's ride it till the top!
Comment: Stop moved to 0,9980.
Trade closed: target reached: Closed manually second position at 1,0050. +260 pips from this trade. Not bad
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw

Comments

Sweet!!!!!
+1 Reply
Roker1 musiq787
Hey @musiq787, thanks!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out