AUDCAD - The AUD Is Look Especially Weak Recently!
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Strong downwards trend
- Break below major support
- Retesting a previous key level
- 38.2% fib retracement level touched
- In a descending channel
- Downwards trendline touch
- AUD is the 2nd weakest major currency whereas the CAD is the 4th weakest major currency
- 14K short position increase for the AUD
- Recent AUD news has been bearish
Bullish Confluences
- 3K long position increase for the AUD
- 1K long position decrease for the CAD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
Our entry requirements have been met and our order has been filled. We are short looking for the AUD to continue with this bearish decline that we've been seeing recently, pushing price further down to our take profit.Trade closed: target reached
Trade Closed
(+2.18R) Made
After Trade Comments:
This was another beautiful trade that we caught today. Price started off heading in our direction but due to some choppiness we saw price not have any real directional bias until last night when some news came out for the AUD which looked bearish, in turn pushing price to the downside to our take profit. Overall this trade played out exactly as we expected and we were able to catch some decent RR on this trade. Recently our trades have been doing very well so lets see if we can catch some more moves like this!
Stay Safe - The JPI Team
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.
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.