Technician
Short

AUDCAD: Another Bearish Resumption Trade | #FOREX

FX:AUDCAD   Australian Dollar/Canadian Dollar
1675 18 24
*Update: First half was closed at first target, moved stop to breakeven, second half was closed at breakeven...

-The price has completed a bearish head and shoulders top
-Broken below the short term rising trend line
-Currently retesting 0.9790-0.9800 horizontal resistance
-The price is trading within a short term bearish channel

I am looking to short near 0.9800 level, a a pin bar at this resistance would be a great confirmation for this short.

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

Good luck, keep your stops tight..
My best regards
Technician
My trading ideas channel https://telegram.me/technician_forex_trades

Get your gift : https://thefxchannel.com
On Daily & Weekly charts this pair is creating Inverted H&S pattern....Please have a look at it.
Reply
Technician TOP chetan.visa
can u post a chart here please to clarify
-1 Reply
Technician TOP chetan.visa
I think you mean this one
snapshot
.. well this is pretty unconfirmed yet, i advise not to speculate on any uncompleted patterns
-1 Reply
chetan.visa Technician
Yes, It looks much better on Daily charts. Right shoulder is in process..
Reply
Hey Technician, thanks for your post. I too have taken this trade albeit earlier in the week. I'd also be interested in your thoughts on short AUDJPY if you have any intention of review this pair. JC
Reply
Technician TOP Cryptoelite
Buddy, i have a slight bullish bias for the AUDJPY
snapshot
-1 Reply
Not likely to work I think.
snapshot

Cross above that line (and the pivot) in 2 days possible.
Then more upside is likely, but we'll see.
Good luck!
Reply
Very nice!
Reply
xFuD xFuD
Technician can you tell me why the S/L is at that position?
Reply
because its above the horizontal resistance at 0.9790 and the descending resistance of the channel.
Its important to put your stop somewhere that if reached the reasoning behind the idea would be not valid anymore.
-1 Reply
Technician TOP Technician
First target hit btw
-1 Reply
xFuD Technician
Yes that was very nice! News catalyst hit your target precisely!
Reply
chetan.visa Technician
Great..
Reply
Excellent trade well done :)
Reply
Such beauty. +1 Technician I still have two other tgt's to be hit...
Reply
Great trade! Thanks Technican
Reply
Thanks mates.. Still running for second target
-1 Reply
Technician TOP Technician
Second half was stopped at break-even
-1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out