AUDCAD - Bearish Bat almost complete. We have a long B-D Magnet trade almost to completion.
I will be looking for an entry as shown when we see some price diverging signs More info as we come into completion.
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I have taken my profits on the B-D Trade, still waiting on the setup for the bearish trade if it comes..
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Divergence showing, we really only touched overbought but not reached our target, AB=CD only.RSI back to the 70 and price reaching target Lets see how it pans out
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well it managed to near the next support level below our stop, if it breaks up again, I am stopped out, but looks lie we may be OK here
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I am trying to show ideas only but here are my targets and SL If you are looking and trading these you should have your own targets based on your strategy
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ran straight past us but we have another opportunity here in the coming hours possibly
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
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@Trader_Dale, Thanks for your input buddy, will definitely check out your profile and targets, thanks for sharing, always good to see some support and confluence :)
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