Canadian Dollar Currency Strength: Very Strong (positive order flow)
A symmetrical triangle is forming as price consolidates around the .9875 area. Unemployment numbers released at 9:30ET USA may move price outside the triangle and define the start of a trend.
Prices broke KUMO as well as LS. Strong signal to sell the pair. S1 and S2 as shown above. Stop is placed on the extension of KS.
Watch this develop as a good opportunity could be presenting itself. Either we reverse after this most recent Bearish Butterfly completion or we go higher and complete the Bearish Crab. Either way I hope you take a position once a clear cut signal is shown. Good luck
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In my view we're currently in an impulse wave C or 3rd wave==this thing can fall further down :p. For sellers: sl @ 0.9850 (500pip) short @ 0.9350 TP @ 0.9050 (300pip) For buyers :) Golden buy==0.9013 (major support level) SL @ 0.8500 TP @ 0.9500
Well price seems it formed a double top around 0.9744....In my veiw this price can break around the 61.8 Fib area.... Conclusion==short it baby :p.... Short @ 0.9616 TP 1 @ 0.9577 (50% fib) TP 2 @ 0.9540 (max target in my view) SL @ 0.9800
It's called a symmetrical triangle, but you can also call it a Bullish Pennant :)... Buy @ 0.9700 SL @ 0.9600 TP 1 @ 0.9740 TP 2 @ 0.9780 (that's if your extra lucky :p)
Well it looks overbought .....So i would short it below the senkou span b border (which is acting like a temp support area).....Once we go below it, there is probability that the price will come down to support area E. Short @ 0.9552 TP 1 0.9516 TP 2 @ 0.9501 TP 3 @ 0.9470 SL @ 0.9700
Short @ 0.9512 TP 1 @ 0.9434 TP 2 @ 0.9370 SL @ 0.9612
Short @ 0.9512 TP 1 @ 0.9435 TP 2 @ 0.9362 SL @ 0.9612
Key suport area tested 3 times and now looking for to Buy after crossing 100MA on 5 TF. Pretty good TP and SL. It wont kick my ass since this is a low risk trade.
AUDCAD SHORT SHORT TERM PATTERN ON 1 HR CHART
AUD/CAD continues to fall in a bullish descending triangle that will ultimately result in a sharp move to the upside for AUD/CAD. Within this triangle price is now moving against the trend toward the .97 support/resistance level where price should reverse and head lower. Look for resistance to hold and for the TSI to reverse below its signal lines.