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.
Rejections at 1.003 and 1.004, which also happens to be a historical structure area and a 0.618 fibonacci together with weakening momentum. These key points build this case for me.
Aiming for first profit at 0.994 and final at 0.988
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 we are on AUDCAD hourly chart. As you can see price has created 4/5 point of the Bat pattern. Now we're just waiting for its completion to come; the black line represents a previous level of daily structure, and that increases the chances we can get a reversal from there.
Stops above X, targets as usual in harmonic patterns.
If you have questions, ...
today i want to show you the power of candlestick combined with structure. Here is the 4H chart on AUDCAD, and the price is coming back to retest the 618 level of the bigger daily impulse; this level also lines up with a structure (that you can see if you scroll the chart).
With this two level i was able to draw a box where i can search for shorting ...
Structure, trend line, and a fibo 0.618 are all fighting together for me on this one.
I will watch closely and keep trailing tight after passing 1.0 down at target two.
For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
The AUD has performed well over the last week but with price now reaching overbought and AUDCAD approaching double resistance, we may see a decline from these levels.
Being a holiday, volumes will be down but this can lead to volatility.
We are taking a small position and SHORTING this pair from 1.0094 with a STOP at 1.0140 above all the resistance.
today i want to show some of my day trading ideas: here on AUDCAD price has formed 3 valid points for a Bat pattern. I'm waiting to see if price can reach 1,0230 level. There i wil be selling with stops above X and target1 and 2 at 382 and 618 retracements.
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see ...
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 ...