Happy new year!
This is my first analyze for 2016 on the FX:AUDCAD
Second trading day of 2016 and FX:AUDCAD shows some combination of patterns, and break of structures.
First of all IF the prices break through the 1.0037 we have a potential 2618 trade.
IF the prices hits the 1.0060 - 1.0100 zone we can look to go short.
What's in that zone?
- . + resistance structure + nice RR. Potential oppertunity to retest the lows.
- Psychological 1.0100 price level
What i'm going to then?
Following my trading plan my orders are resting now for the completion.
When both targets are hit and the next to patterns are still valid i'm also taking those.
I'm still backtesting all the other signal tools so not taking those at the moment.
End of my FX:AUDCAD analyze.
Looking forward what you guys see in this market.
Wish you all the best traders!
Because the 0,9950 level has been penetraded.
Orders are moved to the completion of the cypher pattern.