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Australian Dollar/Canadian Dollar
Long

AUDCAD Long - Multiple Time Frame Analysis

By NoCeilingsTrading
Updated
Monthly Time Frame
snapshot
  • 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
snapshot
  • Price met resistance, formed a double top, and closed as a doji followed by a bearish engulfing signaling a selloff.
  • During the sell-off (retracement) price found support at the 61.8 fib level and closed as doji candle stick signaling a potential reversal.


4Hour Time Frame
snapshot
  • I am anticipating price forming a double bottom as a candlestick reversal pattern.
  • I am expecting a bullish push to 0.895
Comment
Price is beginning to make its bullish push as anticapted.

snapshot
audcadanalysisaudcadlongbullishaudCandlestick AnalysislongaudcadMultiple Time Frame AnalysisSupply and Demandtopdownanalysis

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