Get started

Audcadsetup

AUDCAD @ 1h @ week of decisions (50th week`16)A week of decissions stays ahead this week (50th week`16) ... 1.03975 start of extended downside trendline (november`16) 1.00947 end of extended downside trendline (november`16) This could be an usefully long/short decission helper! 0.99394 1st high this month (december`16) 0.98427 1st low this month (december`16) 0.98439 1st test of this month low (december`16) An OutBreak to the Up/Down Side could be also an usefully long/short decission helper! 0.97291 temporarly summer low 2016 (july`16) 0.97537 temporarly summer low 2016 (august`16) Will both summer lows be usefully support lines? Or will they broken through? If AUDCAD will break down (<0.97291), then are only last year lows next support lines ? 0.91754 yearly low 2013 0.93979 yearly low 2014 0.91513 yearly low 2015 0.93266 yearly low 2016 Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
by Devise2Day
Yes! You got it right about Audcad, Follow the chart for setupThe overall aspect of this structure looks like a megaphone. We could say, there is a horizontal bottom formation. The formation already touched two minor highs and two minor lows. The volume of the formation, which is almost a "U" shape supports the idea. 1) A premature pullback can happen to the level of 0.618 for a very short-term buy 2) If it breaks the horizontal trendline downwards, then wait for a pullback, flag or such short-term formation to continue selling. 3) I will update the chart day-by-day, if possible Follow the chart and never forget to click the like button. Trade with care and you are responsible for your trading. Thank you.
Short
by patterntrader