AUD/CAD - Bearish Volume Incoming!
Hello Traders!,
We're nearing the end of this trading week, with lots of great opportunities, I hope we've all been able to capitalise of this lucrative trading week. Here we can see an influx of bearish volume on its way for AUD/CAD pair, taking advantage to see if we can make some shorts.
What Is The Market Telling Us?
When Should We Enter?
We're nearing the end of this trading week, with lots of great opportunities, I hope we've all been able to capitalise of this lucrative trading week. Here we can see an influx of bearish volume on its way for AUD/CAD pair, taking advantage to see if we can make some shorts.
What Is The Market Telling Us?
- Resistance zone of around @0.94000 has been holding for over 3 weeks, with showing multiple strong rejections
- We can clearly see the market has been ranging between our support and resistance levels for some time, further consolidation is expected
- Bullish volume has been decreasing ever since price has reached our resistance, giving us more confluence of a drop off in price to come soon
When Should We Enter?
- Since we're looking for SHORTS on this pair, we can enter the market as soon as a we get bearish confirmation at the resistance
- Look for certain bearish candlestick/chart patterns, these patterns will be validated as they will occur at our resistance zone
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.