We have an active trade position and idea open which we sent you guys however price action has changed and so has the analysis.
Price broke out of its downtrend and trend line and came back down to retest it as normal, however this time it has formed an ascending channel and price is now at the bottom, we are expecting moves up.
As previously stated in our short opportunity trade, price has been travelling in a descending channel and has also been travelling within its support and resistance zones very strongly. HOWEVER - Price broke out of the channel to the upside and also broke above a resistance zone at the same time. we have seen a slight retest downwards which is where we have...
AUDCAD HAS BROKEN OUT OF ITS MINOR ASCENDING CHANNEL (BLUE), WE JUST WAS A RETEST WHICH WAS ALSO THE TOP OF THE DESCENDING CHANNEL (BLACK) INDICATING A SELL. THE PINK HIGHLIGHTED RECTANGLE IS OUR TARGET
AUDCAD DAILY - price has been moving in a large descending channel marked out in blue. Price hit the top of the channel and on its way down it has formed another descending channel marked out in black.Zones have been marked out for you, have fun trading, CREATE A PLAN AND TRADE THE PLAN
We could see a move down to the pink highlighted rectangle if price stays...
here we can see a Bat pattern already completed at 0,9975 level. Stops below X, targets as usual in harmonics. RSI Oversold additional confirmation.
If you want to share ideas or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
with a new week ahead i want to share with you this interesting situation on AUDCAD. On the daily chart we are now testing a key structure level: as we approach that level i go on lower timeframes in order to catch an additional confirmation of the upward reaction move.
As you can see on the chart i found different clues supporting my view.
few days ago i've published a shorting opportunity on this pair. But that doesn't mean we can't change our mind. In this particular case, i've missed the short entry but that was in fact a counter trend trade.
Now price has retraced back right on the previous resistance that was broken and that could turn into support (black box). Since we have a double...
if you are familiar with harmonic pattern you'll know there are two Gartleys setting up on AUDCAD.
A bearish one and a bullish one, so we have a decent opportunity anyway. This is called "bracketing the market" and it could happen very often with advanced pattern formations.
Both patterns are valid, but the yellow one is in accordance with the major...