USDCAD this is a nice place to enter for a short.
stop loss should just be above my blue line.
FOR THOSE THAT have been keeping tabs with
my analysis, you should have made lots of profit on this pair. :)
PLEASE LIKE, FOLLOW AND COMMENT
8 failed attempts to close below 0.92900.
We find heavy support here looking back historically aswell.
In the background we also see a completed gartley, and we also have a double bottom followed by a 61.8 retracement which acts as my entry point.
The momentum is turning in our favor.
IF, however, we break to the downside we will most likely find another...
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...
We have a triangle forming, and within it a Gartley completing right at bullish trendline / lower triangle. We also have a AB-CD within the gartley to strenghten the gartley pattern.
Targetting 0.382 fib of A-D move, stop loss below trendline.
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!
Time to get short!.. Or long!.. Or both.
We're currently in a previously tested channel with support/resistance both above and below. We see two pattern forming. Gartley (red) and bat (yellowish).
Orders are pending on both, lets see which gets filled!
Inside a forming bullish pennant we find a opportunity to get long with retest of trendline/lower pennant line which should act as resistance, together with the completion of a Cypher-pattern.
I entered 0.95435 with target at 0.95633
Stop loss below previous support.