Get started

Audcadforecast

AUD/CAD, DAY CHART, SHORT (11-DEC-2016)Note: Is is a TURN Setup or Reversal Trade The trend now turn to BEARISH There are 2 ways to short this pair 1. If the price break the support zone around 0.979x strongly, wait for pullback to the support zone and SHORT 2. If the price bounce back from support zone around 0.979x Wait it touch the 20-EMA and short when a bearish signal appeared :) Fundamentally, if Crude price continue the strength, CAD will be stronger and able to push this pair further down. On Thursday, need to pay attention on AUD employment data :) If will be a R/R ratio of 1:1 for TP1 and 1:2.5 for TP2 Trade with right risk management and psychology skill :)
Short
by YongLiang
Yes! You got it right about Audcad, Follow the chart for setupThe overall aspect of this structure looks like a megaphone. We could say, there is a horizontal bottom formation. The formation already touched two minor highs and two minor lows. The volume of the formation, which is almost a "U" shape supports the idea. 1) A premature pullback can happen to the level of 0.618 for a very short-term buy 2) If it breaks the horizontal trendline downwards, then wait for a pullback, flag or such short-term formation to continue selling. 3) I will update the chart day-by-day, if possible Follow the chart and never forget to click the like button. Trade with care and you are responsible for your trading. Thank you.
Short
by patterntrader