This baby has been on my radar for quite some time!
Market is now to the top of this channel hitting it for the 3rd time at a strong zone. I will now be looking for a bearish rally to the bottom of the channel to next zone.
My overall bias is bullish for Aussie, however the bottom of this channel should give us a sniper entry for the rise.
Let's see if it's...
CAD news was positive this morning (21st December 2017) bringing the market back up to previous structure.
I'm of the view that this pattern will complete the right shoulder which was identified on the monthly as well as daily timeframes.
Let's watch this dance.
This will be a swing trade once the market shows confirmation of the turn.
I have been looking at this pair for some months now.
At first I mistakenly thought it had broken out of the consolidation box and was ready to trade up. But upon further analysis it came back in the zone.
I will be looking for a reentry to this gravy train.
If it continues we will ride it for some weeks.
Did you get into the markets yesterday?
This analysis is holding. The election results from the UK's election helped solidify my thoughts on this. Let's see how it will continue into the new week.
Today is Friday. Time to wind down! Have a great weekend!
This turned out to be an awesome swing trade and is still rocking. Did you take the Trade?
If you are still in solidify partial profits and move stop-loss into profits. UK elections tomorrow! Who knows what will happen. Play safe all!
If the resistance area holds by the end of the day and the the next candle opens below I am looking at a possible sell.
However, because of the elections on the 08th I don't particularly like the idea of messing with english pairs.
Let's watch and see.