Analysis Prediction for today I have here is a simple chart mark-up on the Pair AUD/CAD
Reason We took trade
Simply it has been a slight change in momentum on the smaller charts working there way to the 4hr and 1day
Several Confluences are working together that follows our trading strategy.
on the 1hr Chart 0.91770 we have a strong bullish candle to the upside that is breaking through the upper levels.
When we see strong candles like this on higher time frames it is a confirmation that it is strong enough to continue forward in the trend. We will now watch and observe the market and how it behaves at this level.
We set a stop loss at the lowest price off the 1hr chart we took the trade from which is 0.91393
we set a take profit at 0.92318
objective #1 is to carry this trade on through the London Session and close at New York End if take profit is not hit.
objective #2 Use proper risk management
Reason We took trade
Simply it has been a slight change in momentum on the smaller charts working there way to the 4hr and 1day
Several Confluences are working together that follows our trading strategy.
on the 1hr Chart 0.91770 we have a strong bullish candle to the upside that is breaking through the upper levels.
When we see strong candles like this on higher time frames it is a confirmation that it is strong enough to continue forward in the trend. We will now watch and observe the market and how it behaves at this level.
We set a stop loss at the lowest price off the 1hr chart we took the trade from which is 0.91393
we set a take profit at 0.92318
objective #1 is to carry this trade on through the London Session and close at New York End if take profit is not hit.
objective #2 Use proper risk management