Monthly Time Frame Price made a bearish push until it closed as a doji candlestick found support at the weekly demand zone then made a bullish push After the bullish push price met resistance at a weekly supply zone ultimately forming a high. Price then began to sell off (retrace). Weekly Time Frame Price met resistance, formed a double top, and closed...
AUDCAD is sitting around a strong support zone in top down from weekly TF, we will be looking for buy setups. We can take risk entry after succesful rejection from support, or you can look to take second entry at 15M flag formation after rejection. A third entry can be taken after break and retest or formation of continuation patterns.
AUDCAD: LONG 0.8950 / 0.8920 R30 > HOLDING ABOVE GROUND LEVEL 0.8900 > FOCUS ON CAD CONTINUED STRENGTH, AUD WEAKNESS > AIR CURRENTS SUPPORTING LOWER MOVES > VERTICAL SPEED NEEDS TO DROP FURTHER AND THEN INCREASE NEARER 0.8950 TO SLOW THE DESCENT
AUDCAD gives as strong Buy signal. It goes down to test support one last time as the structure still shows that there is an expected strong up push.
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Bullish Structure we can get a long trade (Buy) when the price arrive to entry level : 0.93250 - 0.93170 with TP1: 0.93700 TP2: 0.94000 TP3: 0.94400 Stop lose : 0.92900 This is not an investment recommendation or any call to buy or sell It is just an analysis based on a study of the history of price action Behavior , that may not be a necessarily reason for...
On the 4hr chart AUDCAD a bullish butterfly has formed. Perfect set up for great swing to the upside. Use proper money management.