Hi Guys,
Here we have the AUDCAD on the Weekly Chart.
There is quite a bit of detail on the chart and below are key points to note:
* Huge Bullish Gartley forming over a two year period
* Bounced off of weekly Resistance level four times
* Trying to Break 0.618 of last down swing
* Four hour is showing downtrend
*1:2 Risk to Reward
*Daily is in down trend
*Last daily was a reversal candle
I will be shorting for around 120 pips based on the four hour and will then re asses to identify my next entry level for to gain maximum pips from the weekly analysis.
Do let me know of any questions.
Have a great day!
Victoria
Here we have the AUDCAD on the Weekly Chart.
There is quite a bit of detail on the chart and below are key points to note:
* Huge Bullish Gartley forming over a two year period
* Bounced off of weekly Resistance level four times
* Trying to Break 0.618 of last down swing
* Four hour is showing downtrend
*1:2 Risk to Reward
*Daily is in down trend
*Last daily was a reversal candle
I will be shorting for around 120 pips based on the four hour and will then re asses to identify my next entry level for to gain maximum pips from the weekly analysis.
Do let me know of any questions.
Have a great day!
Victoria