KatlegoKing
Short

Correction ending in AUDCAD?

FX:AUDCAD   Australian Dollar/Canadian Dollar
Firstly I would like to highlight the 1.00000 price level! This is a significant level in my analysis because it's a psychological price level and this level was rejected for 9 consecutive days, (these rejects are in the form of pin bars). Due to this, I have a bearish sentiment and as I further analysed the chart I realized that the general prominent trend is bearish . With that in mind I set out to confine the downtrend below a trend-line which I managed to do, but this confinement was broken. Despite this I cannot confirm nor deny the probability of a reversal occurring, but the fact that price is rejecting the psychological level of 1.00000, I decided to see how price relates to the Fibonacci and it came to be that price retraced of the 0.5 fib level, so this further fueled my bearish sentiment, now all I am waiting for is a cross of my MA's then I enter a sell
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out