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...
AUD CAD HAS BEEN TRAVELLING IN A VERY MAJOR DESCENDING CHANNEL WHICH CAN BE SEENN MORE ON THE WEEKLY AND MONTHLY CHART. (BLUE CHANNEL)
The most recent test on this channel that we just seen was at the top of the channel, on its rally down towards the bottom of the channel price has formed another descending channel marked out in black.
All support and resistance...
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...
it's been a long time without posting. I've continued doing some analysis on the italian section but i've not had the time to publish my analysis here also. I'll try to publish more on the following weeks.
I'm back with a very interesting analysis on AUDCAD. I'm not used to trade on Friday but i wanted to bring you something because i think it represents...
Based on 1hr/4rh exhaustion. Don't have time to draw all the trend line in now. But it looks like a good drop coming in. This could have been a retest of the high to continue the long term down trend , maybe a 0.5% to 1% decline on the cards. But put a stop above high so its a trade you wont lose much on. We can always reenter later on.
Once again price is testing the upper resistance trendline (red) of this bearish channel which started back in June. Yesterday we closed the gap (circled).
This is also a weekly resistance level so it is likely we could have a very nice short opportunity here with a target of the lower supportive trendline (green) around the 0.90500 price level.
We did get some...
Steady zone lies above if price keeps moving up from where it is currently. Swing high fractal is slap bang in the middle of the 50/61.8% retracement zone. Something is bound to happen here, hopefully it'll meet my rules of engagement.