IF AUDCAD hits the 1.0060 we have a nice reason to go short here
Hello Traders!
Happy new year!
This is my first analyze for 2016 on the
AUDCAD
Second trading day of 2016 andAUDCAD shows some combination of patterns, and break of structures.
First of all IF the prices break through the 1.0037 resistance level we have a potential 2618 trade.
IF the prices hits the 1.0060 - 1.0100 zone we can look to go short.
What's in that zone?
- Cypher pattern
- Bat pattern
- Gartley Pattern
- .618 retracement + resistance structure + nice RR. Potential oppertunity to retest the lows.
- Psychological 1.0100 price level
What i'm going to then?
Following my trading plan my orders are resting now for the gartley pattern completion.
When both targets are hit and the next to patterns are still valid i'm also taking those.
I'm still backtesting all the other signal tools so not taking those at the moment.
End of myAUDCAD analyze.
Looking forward what you guys see in this market.
Wish you all the best traders!
Happy new year!
This is my first analyze for 2016 on the
AUDCADSecond trading day of 2016 and
AUDCAD shows some combination of patterns, and break of structures. First of all IF the prices break through the 1.0037 resistance level we have a potential 2618 trade.
IF the prices hits the 1.0060 - 1.0100 zone we can look to go short.
What's in that zone?
- Cypher pattern
- Bat pattern
- Gartley Pattern
- .618 retracement + resistance structure + nice RR. Potential oppertunity to retest the lows.
- Psychological 1.0100 price level
What i'm going to then?
Following my trading plan my orders are resting now for the gartley pattern completion.
When both targets are hit and the next to patterns are still valid i'm also taking those.
I'm still backtesting all the other signal tools so not taking those at the moment.
End of my
AUDCAD analyze.Looking forward what you guys see in this market.
Wish you all the best traders!
Note
Gartley and the bat pattern became invalid.Because the 0,9950 level has been penetraded.
Orders are moved to the completion of the cypher pattern.
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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.