AUDCAD Might Attempt To Tackle 0.92000 Level!
Hello Viewers, this is an instant trade signal! Therefore, please have a look at the main chart for the following vital trade details:
• ENTRY POINT
• STOP LOSS
• TAKE PROFIT
• RISK TO REWARD
The setup may look simple but I can assure you it is NOT. There are various in depth technical and fundamental analysis incorporated behind the execution. I would very much love to explain these two aspects here but doing that would consume ample amount of time which could affect the appropriate entry point behind this trade! So, to keep it simple the main chart just displays the simplified technical view of this trade.
My way of performing technical analysis basically starts by breaking down the monthly Timeframe down until the One Hour charts. The following are the aspects I focus most on when performing technical analysis:
• Draw Support & Resistance through key common psychological levels on M & W Charts. This helps me to see where the price might stall or breakout.
• Draw Trendlines to determine the dynamic support and resistance levels present on the charts. This helps me to determine where the price might stall and most importantly help determine the path of least resistance behind the active trade.
• I also tend to use EMA 50 on all the Timeframes. This EMA 50 is proficiently proven to act as dynamic support and resistance and is vital behind all my analysis.
• Lastly, I tend to use classic pivot levels to determine my entry, stop loss and take profit levels. The combination of this and all of the above helps me determine the precise and likely trade targets behind the setup.
Another aspect of my way of analysis is reading a lot of news to determine the fundamental aspects affecting any trade. After the technical analysis is performed, I tend to match if the fundamental aspect really supports my technical analysis.
Therefore, as you could see, putting all my thoughts here would surely take up a lot of time which could make the price drift away from the entry price thus affecting the Risk to reward ratio. I understand it is vital for many of you to know the details behind this trade setup, and so if you are interested you could send me message and I will try to share most of what I can!
The Above words are just template I use in all my trades. Shall there be any updates I will provide them here. Thank you
• ENTRY POINT
• STOP LOSS
• TAKE PROFIT
• RISK TO REWARD
The setup may look simple but I can assure you it is NOT. There are various in depth technical and fundamental analysis incorporated behind the execution. I would very much love to explain these two aspects here but doing that would consume ample amount of time which could affect the appropriate entry point behind this trade! So, to keep it simple the main chart just displays the simplified technical view of this trade.
My way of performing technical analysis basically starts by breaking down the monthly Timeframe down until the One Hour charts. The following are the aspects I focus most on when performing technical analysis:
• Draw Support & Resistance through key common psychological levels on M & W Charts. This helps me to see where the price might stall or breakout.
• Draw Trendlines to determine the dynamic support and resistance levels present on the charts. This helps me to determine where the price might stall and most importantly help determine the path of least resistance behind the active trade.
• I also tend to use EMA 50 on all the Timeframes. This EMA 50 is proficiently proven to act as dynamic support and resistance and is vital behind all my analysis.
• Lastly, I tend to use classic pivot levels to determine my entry, stop loss and take profit levels. The combination of this and all of the above helps me determine the precise and likely trade targets behind the setup.
Another aspect of my way of analysis is reading a lot of news to determine the fundamental aspects affecting any trade. After the technical analysis is performed, I tend to match if the fundamental aspect really supports my technical analysis.
Therefore, as you could see, putting all my thoughts here would surely take up a lot of time which could make the price drift away from the entry price thus affecting the Risk to reward ratio. I understand it is vital for many of you to know the details behind this trade setup, and so if you are interested you could send me message and I will try to share most of what I can!
The Above words are just template I use in all my trades. Shall there be any updates I will provide them here. Thank you
