AUDCAD was travelling within a descending channel on the Daily chart for a long time until price broke out to the upside and formed an ascending channel which is marked out with the black lines.
Price is now at the bottom of the channel and it has also formed a doji candle, this indicates a reversal in price to the top of the channel. We will keep you updated on...
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...
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...