Good morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a AUD/CAD Sell. Enjoy the day all. Cheers. Jim
Aussie CAD broke rising channel and now pullback to it. After huge drop on Thursday, Aussie can weak again and AUDCAD can goes down again.
Stop loss is above Thursdays candlestick and TP is 100 % of bearish move.
Trade safe guys.
The more touches at supply made the zone weak, it had to be liquidated at some point.
Now that we have successfully liquidated the supply sellers with compression delivery, we may see a continued sell-off.
I will be locating a sell with my team later in the day depending on the rejection.
currently looking to sell Auzie cad from the supply zone above.
price created a Choch on the 1H TF..
I'm selling into a Minor structure point unmitigated demand zone.
we will still have a break lower even after theinor structure point, but my target is to take profit at the Minor structure point demand zone due to reversals.
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Hello friends, its a beautiful Tuesday morning and AUDCAD is cooking up something nice for us.. First the daily timeframe, Order flow is bearish, price has retraced into a Daily reversal zone marked with the red and blue fib. Price has taken liquidity at swing highs on the H4 and within the daily reversal zone price has printed a Weak hands pattern (1hr)...
Well , as you can see all targets of AUD/CAD has been reached and we opened a new position , this time SELL ! let's See what would be happen soon !
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👤 Arman Shaban : @ArmanShabanTrading
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After a long period of time, the compression was completed and all the early buyers invited into the compression trap were liquidated.
I will now be looking to join the true buys around a solid area of demand.
We may bounce from here but I believe we are likely to push deeper into the initial demand before we see any reaction.
As always, I will be monitoring...
Preceding trend – has been bearish since April.
Current price action – Pullback to a major S/R zone.
Factors of confluence:
- Price is below the 50 EMA.
- The breakout was very strong – note the large bearish candle that shows momentum with the bears.
- The pullback is quite weak – note that it has taken 5 bullish candles to recover the gains made by the...
AUDCAD Firstly Grabed the Buy Side Liquidity And then Move Sharply to the Downside and Now After Grabing The Liquidity Above Multiple Highs The Market is Trading on The ORDER BLOCK AREA from Where we are Expecting the Market The Market to Drop Again..........
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