This is just short of the TP I set on this pair in my previous post but personally I have closed the trade, I think this is going to retrace soon as it is now overbought on 4HR and daily timeframes. It may still hit that TP but I prefer to secure the profit as a lot of AUD pairs are looking overbought.
So now I will monitor this pair for a retrace to the support...
The price has continued to move along a strong resistance line that originates in March 2020. But the strong rise in prices is also held back by the resistance zone, the first touch of which occurred at the end of December 2020. I expect the price to fall soon for two reasons. Firstly, it is a strong resistance zone of 0.985, and secondly, it is that since the...
Been monitoring this for a few days as it has been close to resistance. It has now risen to this resistance perfectly and if it breaks above we can enter longs. It may hold up just beneath this at first but you should keep an eye on this for a breakthrough.
There is not a very clear resistance level for a TP but we can use the price of 1.00000 as this may be a...
Upper slopping channel identified on AUDCAD.
Possible quick scalp like trade here with a Risk to Reward ratio of 1:1 not ideal but as TP and SL are reasonable close to current price so the possible loss is somewhat limited.
Price could respect lower parallel channel line and move towards previous high or upper trend
AUCAD UP THEN DOWN TREND
After in early February the price was able to break through the strong resistance zone of 0.973, where the trend line and the strong level crossed, it showed a steady growth. The price continues to grow even now, practically without making any corrections. It is located near the thorn resistance line. This line was formed in February...
I've worked down the timeframes on AUDCAD and have seen a potential buy opportunity.
Technical analysis, using Stochastic Indicator, I can see price is almost oversold.
On the 4H chart, there has been a crossover of thr 50 & 100 day moving averages.
Price tested, broke and retraced the Resistance zone marked on the chart. After a short sell off, I believe...
I have a Donchian Channel set at period 71 on daily chart. I have already set my weekly FIB lines and have been following the retrace from March 2020. As per my previous ideas using Heikin-Ashi candles on the daily time frame only, I buy once the green candles close above the Donchian mid-point line. I stay in the trade until there is a red candle close. I will...
I am currently long this pair. I believe the target price is 1.00112 based on the retrace back up to the March 2018 high. This price represents the midpoint between the 76% and 100% on the weekly FIb retrace which is a common finish. I have also used the Fib tool to project the strength of the retrace from the March 2020 beginning and this appears to match up.
Entry Resistance level idea:
TP Support level idea:
Target 1: 0.962000
Final SL for all Short positions:
0.9915000 Resistance Level
(This was first shared on 5 Feb 2021 in another group, just got time to have it post on trading view as well, hope you all enjoy.)
(Note: The forecast above is an estimation of...