-weekly ascending channel
-weekly higher low made
-weekly counter trend line broken
-4hr ascending channel
-4hr fib found support at 61.80% level however there is a chance of further retracement before going long
-4hr target 1 - 127.20%.
-4hr target 2 looks very likely as it has confluences with upper channel boundary to make new higher high.
Here on the AUDCAD we have what i see as a good opportunity to hop on what i am hoping to be a reversal or just a brief retracement from our bearish move on the higher time frame. I did alot of different analysis in order to get involved in this trade, so instead of typing it here i have decided to do a video tutorial on the analysis i did for the trade on my...
So have been looking at other possible ways this pair could move.
Now if we look at the Monthly Chart we have had our Double Bottom and impulse leg up and a start of a retracement. And will be looking for the 618 retracement to get long.
This idea is all speculation but just a look at a possible path to how we might get there. So from the 4 hr chart we have...
