I'm building a 'portfolio' position by shorting AUD across multiple crosses. This is one of them.
AUDCAD already test fib 0.61 resistance. Now after short cosolidation, we will see bearish direction to 0.96700 target.
i see 2 possible scenarios (similiar to last week) 1) price isnt able to break through the 1.0100 area and gets rejected ..i will look for a short position after a valid TL break to the downside 2) price is able to break the level to the upside and i will play it like last week...get in a trade after a strong momentum candle ..or after a pullback in the area...
HI PEOPLE. WE REACHED THE TOP OF THE MAIN WAVE CORRECTIVE STRUCTURE IN DAILY AND NOT IT IS DOING THE LAST BIG MOVE INSIDE OF IT. LOOKING AT THE H1 CHART WE SAW A GREAT OPPORTUNITY FOR A 110 PIP TRADE. JUST WAIT FOR THE SECOND CORRECTION TO BE FORMED UP AND THEN SELL THE BRAKE OUT MADE BY THE NEXT IMPULSE (THE LAST ARROW DRAWN WILL BE OUR TRADE) I AM WAITING FOR...