I have been monitoring AUDCAD move from the break of 2nd corrective wave and it has given me a lot of potential. Now I am looking to sell the breakout of the flag of 4th corrective wave , expecting to see price reaching the weekly trendline. Take care
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1H Chart , making a nice flag
Trade active
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Possible breakdown
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We have more complex structure , I hold my short for a breakout
Nice trade for us to watch as we close the year....Probably my last trade of the year 2016
sakseeda007
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I like your chart...
gotppf
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Looks Great
Trader_Dale
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Thanks for your great analysis!
Here is my view on AUD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see 3 main volume areas. The biggest one in the middle (around 0.9850) is POC - point of control of the year. It could be used as a magnet (place for profit target) for both of the positions.
Both the volumes around 1.003 and 0.972 made the markets move. Now I think that the market participants that created those 2 Volume clusters will still be active when the price reaches those areas again and move the price again.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there!
Dale