Hi all, just an idea see what you all think into how I look and start a trade, how do you look to start a trade?
Here's a setup I am keeping an eye on with a possibility of 3 out comes:
1. We can trade the support and resistance upon the grey area of value.
2. Price could break the resistance and give us a break with a retest of the grey area of value...
Hey traders, here is the analysis for the AUDCAD. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
Looking to play the next impulsive move to the upside.
We would need to see a break of the corrective structure and s/r zone to consider longs.
Let me know what you think!
The main resistance for this currency pair is the line formed in January 2012! This line regularly reverses the price and prevents it from rising. Support is the line of June 2012 as well as a strong level. The last time the price bounced off the resistance at point 1.000 was in February this year.
After that, the price reversed and began to fall, during which it...
At the end of February, the price changed the main uptrend, which had lasted since 2019, starting to fall from the 0.998 point. During the fall, it approached the support level of 0.948 and its strength was driven by the fact that during a new rise, the price could break the downtrend at 0.956. After that, the price stopped at the resistance level of 0.962 and now...
