AUDCAD is very close to the support line and the longbuylongsell indicator and profit Maximizer indicator shows in 5min 15min 30min the upmove is likely after it touches the support .it will bounce back from here. Background color is still red so it has to become green to confirm the buy entry.
Related scripts here below in "Related ideas section"
Potential long however due it finishing with exhaustion candle i am expecting a pull back to retest structure before going long. This potential long looks good due to the market breaking the weekly counter trend-line. However we do not know how far the pull back will be so therefore we will wait and see. I have used fib extension to show me area of high confluence...
If we see a close at or beyond the current level, then I will engage in a Buy set up. R:R is 2:1. Pull back requires and stop loss is 5 pips below the lowest candle in the 2 x candle signal, which in this case is the low of the black candle.
on AUDCAD i've found two bullish harmonic pattern in the way to complete. Which do i take? It's up to you and to your rules, mine say that i should wait for the better RR (risk to reward ratio), therefore i'm taking the Bat, but you can decide on your own, as soon as it fits your rules. Never lose control of your trading. Always follow the rules. It's...
here on AUDCAD price is testing a key support level that pushed prices higher in the past. Therefore i can expect a reaction at this level on lower timeframes, such as a double bottom with RSI divergence like it's happening on the 4hr chart. At this moment price is also creating a nice engulfing candle that could additionally confirm our view. With stops...
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...
After a few successful long entries on AUDCAD -0.10% , I follow up with another one.
My clues here are:
Bounced off historical support/resistance level.
Bullish trendline as support
Double bottom at above mentioned level of interest
Momentum turning around
Targets marked on chart.
First target markes the 0.618 fib retracement...
Lets find out
Price action is very clearly showing signs of bullish intention.
Blue arrows - Respecting structure.
Purple arrow - Respecting trendline.
In this we also see a 2618, which I have not drawn out. See if you can spot it yourself.
(Also note that it broke and close above falling trendline)
Long since 1.01688
Lets see if we can pull some profit...
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...
We have another bat completing while writing this. The previous 2 bats caught today did not hit home with dollar strenght pushing both gold and eur down. Lets see if we can fly with this bat, third time is the charm.
Bat, oversold conditions and a nice round number (1.00000) is reason enough for me entering this.
A setup we know as 2618 shows itself, giving us an opportunity to get long on this pair.
Target a full retrace back to the recent high and stop loss below double bottom.
As usual, I put my entry a few pips below the conventional entry point to improve my risk to reward ratio.
AUDCAD has been a tricky one for me lately, but we cant let that stop us.
We have a gartley completing right above a clear structure zone that should act as support.
I'm putting my entry order within the structure zone for better risk to return.
All in all,
A small trade with relatively good risk to return. Lets hope we get filled!
Price action broke out of consolidation / structure channel to the upside. We find an opportunity to get long at the 0.618 retracement of the bullish leg. Structure and bullish trendline adds up as support.
We also see a 2618 with the double bottom followed by the break out and 0.618 retracement
Order is pending, lets see if we get filled!
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...