Price is in a descending channel
Reached top trend line & 0.618 fib line (also a S&R level)
Aiming for extension down to -0.27 level @ 0.75040
Entry: 0.75961
Stop: 0.76158 (Giving room for potential bounce off 0.718 level)
Exit: 0.75040
Rising channel
Lower trend line touch couples with 0.618 fib level
Tp is -0.27 & close to upper trend line
My entry = 77.375
My SL = 77.216
My TP = 77.937
Buy Limit 150.844
TP 152.138
SL 150.582
Raising channel
Entry position is touch of lower trend line of channel + 0.786 fib level & Support/Resistance level
Aiming for raise to upper trend line & -0.27 fib @ 152.138
Any feedback greatly appreciated
In this, AUDCAD has touched the upper descending trend line for the third time.
This trend line touch couples with two fib lines, one from the longest high to low, reaching the 0.236 fib line, and with the most recent high to low the trend line matches the 0.618 line
The 1Hr RSI is overbought also.
Any feedback is greatly appreciated.
With three touches to the bullish trend line on the daily charts, respecting the 0.618 trend line which also happens to be a key support/resistance area and meeting the bullish trend line.
Could we be back on for a Gold bull run?
Happy for feedback on my analysis
