BASED ON THE ANALYSIS PROVIDED, WE EXPECT BULLISH MOVE FOR THIS PAIR IN THE COMING WEEK
IN THIS VIDEO, WE TAKE A LOOK AT AUDCAD AND THE POTENTIAL FOR FURTHER DOWNSIDE. PRICE IS TRENDING LOWER ON THE WEEKLY, DAILY AND NOW THE 4HR CHART. COMBING THE TIMEFRAMES WE HIGHLIGHT AN AREA OF RESISTANCE WHERE PRICE COULD MOVE LOWER FROM MOVING INTO NEXT WEEKS TRADING.
This is a follow up. I'm watching some fall off in momentum on AUDCAD from daily down to 4H time frames. On the weekly time frame price has moved into an investor zone and is struggling. At this point in time I assess probability as greater for the south between 1D to 4H time frames. The markets may well prove me wrong. For every probability in one direction...
There is probably a head and shoulders in there. Trend on 4H seems to be weakening. No recommendations. My entry point was based on other methodologies.
See previous screencast on AUDCAD I still see potential for a reversal and I explain why. Also see recent other setup on EURUSD using similar methodology.
In today's video updated we look at a trading opportunity on AUDCAD 1hr chart. Currently the market has found resistance at the key weekly zone and looks to be forming a Daily double top pattern. If the market can pullback into the 1hr area of structure we will look for short opportunities into the neckline support.
I explore possibilities for next week.
In the screencast, I explore the main timeframes and show my reasoning for shorting. (Not a recommendation or advice for anyone else to short).
I left out something in the commentary! On the H4 charts, you will see the prices have tested the Trendline Resistance which is the upper line of the Downward Channel and it coincides with the 0.618 fibo retracement level. More substantiation to a SELL TRADE! If you like what you see, please like and follow me BELOW! www.tradingview.com Feel free to leave...
This video breaks down AUDCAD from the monthly timeframe to the 15 minute. Market structure, fibonacci, trendlines, reversal candlestick patterns etc utilized. Waiting for a 15 minute TF break of structure, a pullback, and candlestick confirmations before selling. :D
Market Structure Fibonacci Trendlines Candlestick Patterns
An inside bar has formed off of a near term support level. Price is consolidating in the long term but in the short term there is some price bullishness. This pattern formed after a small pullback and could set us up for the next leg higher. As soon as price breaks out of the mother candle I will begin moving my mental stop up at logical points and ride this as...
AUDCAD SELL Entry: .9815 - .9820 TP1: .9790 TP2: .9740 TP3 (Swing): .9300 SL: .9850 Risk/Reward: 2.33 • All signals are at your own risk. Please use proper risk management. We suggest never risking more than 5% of your balance on one trade. Trading carries a great deal of risk, be careful! Loss streaks come just as easy as winning streaks. If you use risk...
SELL Entry: .9815 - .9820 TP1: .9790 TP2: .9740 TP3 (Swing): .9300 SL: .9850 Risk/Reward: 2.33 • All signals are at your own risk. Please use proper risk management. We suggest never risking more than 5% of your balance on one trade. Trading carries a great deal of risk, be careful! Loss streaks come just as easy as winning streaks. If you use risk...
Video explains it but the Trendline Slash has occured RSI shows price not likely to break back through now looking for a ranged Shoulder to form within Demand & Supply.