AUDCAD, 2023-02-21
Updated
AUDCAD has entered a RBR, with a retest of a near term trendline break as support.
-- Target is 1.00 on the Fib ext, well within bounds of the upper downtrend line
-- This is a continuation pattern. This formation requires a 5m COC (change of character) retest entry.
However, the upcoming Inflation numbers could nullify the trade entirely so watch out.
-- Target is 1.00 on the Fib ext, well within bounds of the upper downtrend line
-- This is a continuation pattern. This formation requires a 5m COC (change of character) retest entry.
However, the upcoming Inflation numbers could nullify the trade entirely so watch out.
Comment
06:05 price has broken under the main POI. If prices move further or closes outside of the POI trade is null. If prices close within the POI may adjust for that, but with major news looming this trade looks to be out of play.
-- Trendline retest is there, but not a formation I take on it's own.
Order cancelled
7:24 price has moved way out of range, no way to recover. Trade is nil.
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.