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AUD/CAD Analysis - We expect price to head upward as its currently rejecting daily support and showing wick rejection on the 4 hr. Also have a flag after impulse leg. Target is right before Daily resistance highlighted zone.
Be sure to follow the entry criteria rules...
We can see a double bottom with a lot of buyers at this area. Also, that big wick of todays candle means the real strenght of the buyers. So, the formation is really nice and the thing that can push the price down is if the market pulls back tomorrow.
This huge, out of place (way larger than the rest on this time frame) candle means that price went out of the zone so fast that orders were left waiting. And apparently a lot of orders. Since it took price about 27 hours to get back there. Otherwise, price would not have returned.
March 11, 2021
I shamelessly deleted my bottom ascending trend line on this ETHUSD pairing to adjust for some near-term, bullish, consolidation that is happening.
This consolidation is making the price-target higher, but pushing out the timing.
On this 4hour chart, closing candles are holding the 25day moving average, and wicking down to the 40day moving...
Just posting my chart. Actually sniffed out the short op on 1/26 with some basic trendlines/triangle pattern charting. Went short that night before bed, got stopped out at 00:45 on 1/27 with a small profit, but woke up to a hell of a drop, sucks! Whatever.
Called out some short targets from other triangles/channels. All got hit.
We ended up wicking down to the...
i promise myself i wouldnt reveal my tricks, but i lied, cuz to be a pro trader u gotta be unpredictable even with yourself
let me introduce to you Fundemental Theorem of Algorand Trading: Wick Donalds. take a minute to appreciate the fine art i prepared for you in all its glory
good. this chart describes a phenomenomnom called Wick Donalds. it is...
same chart as before but cleaned up the trends that are no longer viable.
we can see at bottom around the 27.8K level and now a nice rally to retrace the upside. ill be looking for a W pattern with a higher low developing on the 1H candles before i look to get back into a LONG.
also keep in mind the long wick down on the 4am 1h candle is very bullish . lets see...