Monthly Time Frame
Price made a bearish push until it closed as a doji candlestick found support at the weekly demand zone then made a bullish push
After the bullish push price met resistance at a weekly supply zone ultimately forming a high. Price then began to sell off (retrace).
Weekly Time Frame
Price met resistance, formed a double top, and closed...
AUDCAD is sitting around a strong support zone in top down from weekly TF, we will be looking for buy setups.
We can take risk entry after succesful rejection from support, or you can look to take second entry at 15M flag formation after rejection.
A third entry can be taken after break and retest or formation of continuation patterns.
AUDCAD: LONG 0.8950 / 0.8920 R30
> HOLDING ABOVE GROUND LEVEL 0.8900
> FOCUS ON CAD CONTINUED STRENGTH, AUD WEAKNESS
> AIR CURRENTS SUPPORTING LOWER MOVES
> VERTICAL SPEED NEEDS TO DROP FURTHER AND THEN INCREASE NEARER 0.8950 TO SLOW THE DESCENT
Ready to go up for Wave 5 ?
Share your thoughts and observation in comments session :)
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Risk warning!
Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit.
Supplied information is not advice.
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Bullish Structure
we can get a long trade (Buy)
when the price arrive to entry
level : 0.93250 - 0.93170 with
TP1: 0.93700
TP2: 0.94000
TP3: 0.94400
Stop lose : 0.92900
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for...
