CADAUD
AUDCADThis pair is originally a down trend. However, we can see the flag price action continuation pattern getting way narrower and narrower, which is a small indication of a trend losing strength. The MACD divergence favors an uptrend. However the only confirmation is if the price breaks out the box zone(support and resistance area) which will confirm trend continuation or reversal.
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CADAUD Keep Riding the November BullCADAUD in an upward trend since Nov 2016, way above 150MA. It keeps all possible retracement levels indicated by Fibonacci and finished above the red line which shows strong resistance/support.
Watch out for OIL prices since they can potentially influence CAD.
Good luck!
CADAUD cypher and Gartley movementsNo trade setup here, just some formations and potential formations to give an insight into multiple harmonic patterns.
Look for the cypher that has already formed to swing into a Gartley formation.
Potential Gartley is perfect - exact confluence between the 0.786 retracement and 1.272 extension.
CADAUD bearish cypher patternNice cypher pattern here along with good previous structure support. The market will either break the support and complete SL or the support will stop the upward move and push the market into the profit area. RSI is approaching an overbought state, so hopefully it will reach this by the time the cypher has completed.
Looking at the daily chart it can be seen that if this cypher pattern works then the chart will continue with the consolidation in the 0.985-1.020 region. If the cypher is unsuccessful then we may see a longer term bullish trend .
Please let me know what you think - criticism and support is welcomed on equal measure!