AUDCAD Bullish Study Case
Updated
Disclaimer, these ideas are for my records of what I see in the market after taking a trade. It will help me document the reason of why I took the trade so I can have a track record. And as such, this is not a financial advice.
Currently we are in a monthly pullback due to the break of market structure to the downside in a quasimodo type pattern.
https://www.tradingview.com/x/NEPr77un/
After refining the entry a little bit in both daily and 4 hour timeframes, see below charts, I refined my entry point of interest to the zone highlighted in white, which is a supply zone.
https://www.tradingview.com/x/U0h7qumn/
https://www.tradingview.com/x/rAd16cRI/
Currently we are in a monthly pullback due to the break of market structure to the downside in a quasimodo type pattern.
https://www.tradingview.com/x/NEPr77un/
After refining the entry a little bit in both daily and 4 hour timeframes, see below charts, I refined my entry point of interest to the zone highlighted in white, which is a supply zone.
https://www.tradingview.com/x/U0h7qumn/
https://www.tradingview.com/x/rAd16cRI/
Note
Note to entry: I've identified another area of interest in case the first area fails.Explanation: The area at the bottom below the line marked as MPL has a bearish candlestick that took out the liquidity of the previous "support" before the market took off.
I will be monitoring the price action of the pair around the areas of interest to see if a reversal is formed at the lower timeframes.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.