mbarbar

AUD/CAD Possible long incoming (+105 PIPS)

Long
mbarbar Updated   
FX:AUDCAD   Australian Dollar/Canadian Dollar

If the 22/08 candlestick closes with the 3 MA's crossing in it, I will be looking to open a buy position on AUD/CAD. I will first wait for the 23/08 candlestick to close above 0.889. If we see this scenario happen, we can look at the pair from a bullish perspective, with the RSI crossing the 50 threshold, the candlestick closing above the ichimoku cloud, all while the convergence line is floating above the base line.

TP1= 0.906
TP2= 0.911
SL= 0.891

This is my personal TA, please do share your insights!


Comment:
The 22/08 candlestick closed with all 3 MA's included. RSI at 50.88, candlestick closed above ichimoku cloud, and convergence line above base line.

This is looking promising, I will be looking at the behaviour of the chart tomorrow, and if 23/08 candlestick closes above 0.889 I will definitely open a buy.

Will open a smaller position buy soon as market opens, with a SL at 0.886 and leaving TP open, in order to ride the wave in case tomorrow is bullish.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.