lukelehepuu
Short

AUDCAD RUNNING INTO RESISTANCE

FX:AUDCAD   Australian Dollar/Canadian Dollar
79 0 9
AUDCAD             . Point 1 shows price running into previous support and resistance . Price got rejected from Point 1 and then fell to Point 2B. 2B broke the level at 2A which to me indicates there might be a change in direction at some point.

Price then continued to point 3 which also lines up with point 1 (previous support and resistance ). Look at it how you like, whether its a "double top" or a breakout etc. I personally am going to take a short position with a target in between previous support and resistance at 0.9850. This level also lines up with the yellow trend line which is also the trend line for a big channel formed over a period of months.

Related Ideas

United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out