Technician
Long

AUDCAD: Near term upside likely #forex

FX:AUDCAD   Australian Dollar/Canadian Dollar
1969 14 36
Looking for a more upside

  • Breakout above the near term descending resistance shown on chart
  • Completion of a short term inverse head and shoulders
  • Stability back above 0.9600 previously broken support area
  • Bullish divergence on RSI

Having said that, no need for more confirmation signals for me. I put a limit buy order at 0.9600.

Be one of the first members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you

Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
https://twitter.com/thefxchannel
https://www.facebook.com/thefxchannel
https://plus.google.com/+Thefxchannel0
My best regards
Technician
My live trades here https://telegram.me/technician_forex_trades
moneymaking
2 years ago
Hey technician, how you doing? Another strong trade setup. One of the things that I really like about your setups is that, you keep them very simple, straight forward and to the point. The moment I started following your setups, I just fell in love with price action. Keep up the great work. Thanks for sharing and Good Luck :)
+3 Reply
Technician TOP moneymaking
2 years ago
Thanks
-1 Reply
Hi technician I really appreciate what youve done for your friends I admire your work thanks for post your trade-setup I hope that everything goes o.k. for you my master
+1 Reply
Technician TOP manijeh.kazemi.33
2 years ago
thx manijeh
-1 Reply
MuathAlBulbul
2 years ago
Did you buy in yet? Or do we wait until it hits back 0.9600?
Reply
ashif030 MuathAlBulbul
2 years ago
it is pending I think
+2 Reply
JorgeEllena PRO MuathAlBulbul
2 years ago
imo a good way to approach this is to leave a pending order if you are not watching the market every minute. Probably Technician after identify the reversal pattern put a buy order at 0.96, because you don't want to enter after the long blue candle which validated the break at the neckline, and if you change the time frame you can see how even at the 30 min chart, that big change in the price was only one candle.
Reply
Magnum
2 years ago
I guess this trade is about to get cancelled due to reaching the first objective. : )
+1 Reply
Yes mates, i cancelled the trade as price hit first target. But i will keep an eye on it for a new buy signal
Reply
MuathAlBulbul Technician
2 years ago
Waiting for the next coming trade.

Mr. Loay, did you have a look at gold's current position? I think it's probably heading up from here. I have my chart on MT4, but I am replying with this to you since your gold short trade ended.
Reply
Technician TOP MuathAlBulbul
2 years ago
will look at gold soon mate
+1 Reply
tcas Technician
2 years ago
I'm still in trade. Hope to reach 0.96500
Reply
tcas tcas
2 years ago
Correction: 0.97500
Reply
Technician TOP tcas
2 years ago
good luck mate
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out