Chart shows all reasons for a long at this level On the monthly time frame we are looking very short due to a bearish bat pattern completion & heavy bearish price action i.imgur.com Although because this is a potential cypher forming it agrees to a bearish overall sentiment
•CAD is closely correlated with the price of oil. I'm expecting the surplus of oil to reduce early 2016 and oil to rise •Shoutout to @IceTrading for his report on oil
•Bearish Harmonic pattern •Trendline rejection •RSI Divergence •RSI overbought
Big falling wedge into a 14 year trend suggests AU bulls are back in action Short term however i expect price to fall to the lower .71's or lower
•Support line holding •The bullish divergence on the RSI suggests a small correction wave to .382 fib retrace level
Current position on my AU Short High hopes for this one as we have completion of wave B in .618 fib level and alright looking head and shoulders pattern
•Completion of a Bearish Bat pattern •Leg C of a Bullish Butterfly •Descending Triangle on the top •Bounce off the top of daily trendline •Previous structure at .618 fib level and pivot line Best of luck - PipDre
•Bearish Gartley ending on AU yearly trendline •Head and Shoulders at the top •Expecting drop down to the .618 fib level
Expecting a drop to the bottom of the Apex
•Bearish Bat Pattern on 30M •Descending triangle forming •Possible beginning for a Bearish Crab Pattern on the daily
•Bearish Bat Pattern on the 30M •Overbought RSI signal •Possible signal to the start of a Bearish Crab Pattern on the Daily chart
Updated version of the chart from my previous one •Looking for short entries in the red zone •Expecting rise in oil prices
•Bounce off pivot line •.382 fib tracement •MACD crossover Looking for about 80 pips on this one
Watching closely as we are in the breakout zone I have set my short entry at 0.71070 but am hoping for one more bullish wave up to my 2nd short entry of 0.71700 Looking for a TP level of 0.70100