here we are on AUDCAD hourly chart. As you can see price has created 4/5 point of the Bat pattern. Now we're just waiting for its completion to come; the black line represents a previous level of daily structure, and that increases the chances we can get a reversal from there.
Stops above X, targets as usual in harmonic patterns.
If you have questions,...
today i want to show you the power of candlestick combined with structure. Here is the 4H chart on AUDCAD, and the price is coming back to retest the 618 level of the bigger daily impulse; this level also lines up with a structure (that you can see if you scroll the chart).
With this two level i was able to draw a box where i can search for shorting...
today i want to show some of my day trading ideas: here on AUDCAD price has formed 3 valid points for a Bat pattern. I'm waiting to see if price can reach 1,0230 level. There i wil be selling with stops above X and target1 and 2 at 382 and 618 retracements.
If you want to share your thoughts or ask questions, feel free to comment below.
this evening i want to bring your attention on this scenario on AUDCAD. As you can see on the left hand side of your screen, price is now testing a key resistance zone on the daily timeframe. Also, it has created two different ab=cd patterns (one on the daily, one on the 4hr chart) that are going to complete right at that structure level.
RSI is in...
Market price is approaching a resistance level and momentum is reaching a resistance level as well. As long as market price stays below 1.007 and momentum stays below .004 area this is a safe trade. If momentum breaks above the resistance level I have in place the trade would no longer be safe and should be possibly closed as it could open up room for a bullish move.