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...
this is the 4hr chart on AUDCAD and, as you can see, price has managed to break and close below a key support level (on the daily) @0,9950. Since this happened, we can now expect to see support turning into resistance, following the trend established in the downward direction. This zone also helps us creating a comfortable area where we can have good...
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...
this evening i want to bring your attention on this scenario on AUDCAD. As you can see on the left hand side of your screen, price is now testing a key resistance zone on the daily timeframe. Also, it has created two different ab=cd patterns (one on the daily, one on the 4hr chart) that are going to complete right at that structure level.
RSI is in...
i bring to your attention this kind of harmonic pattern that's completing right now on this chart, it is called Gartley.
Its completion point D is right around the corner. Orders set.
Stops above X, targets at the .382 and .618 of the AD leg.
Feel free to write below for any matter.
Otherwise, see you in the next chart!
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...
this analysis may come too late, for this setup met my rules for entry at the previous close, but i want to share it anyway because maybe the price will come back to retest the entry zone. And there i will be waiting for my orders to be filled.
Price is testing a daily resistance zone (blue box) and it's already OVERBOUGHT, that's when i start to look...
I want to point out to you a bat formation that is at market at a previous daily structure level, i usually don't like to trade against the trend but in some cases the major structure in higher timeframe allows me to trade this kind of setups.
Notice that we are also near to a even handle number (1,0300).
My levels are:
Entry: at market