AUDCAD follow through of 2 weeks of solid bullish move … 26 Aug
Updated
Weekly chart – a rejection of price below 0.9010 and then 2 strongly bullish weeks.
Daily chart – bullish trend, pullback completed last week, now moving up again. Note the size of the last daily candle as compared to the bearish candles.
H4 chart – this is my entry time frame. It would be nice to see a small pullback, perhaps to the minor support at 0.91590 or even better to the 20ema.
Evidence of bullish PA would justify taking a long trade. However, if a move to the downside forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Daily chart – bullish trend, pullback completed last week, now moving up again. Note the size of the last daily candle as compared to the bearish candles.
H4 chart – this is my entry time frame. It would be nice to see a small pullback, perhaps to the minor support at 0.91590 or even better to the 20ema.
Evidence of bullish PA would justify taking a long trade. However, if a move to the downside forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Order cancelled
Still have not seen any bullish movement. This trade did not trigger and is now cancelled.
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