Hi Freedom Traders,
I wish you all a great start into a profitable trading week :-)
In the 60min chart of the AUDCAD a completion of a bearish Bat pattern or a bearish Gartley pattern would offer us a nice trading edge.
You find possible entry and exit levels for minimizing risk and maximizing profits in the chart.
Happy Trading!
AUD/CAD trades a narrow range, capped below 5-DMA, intraday bias lower.
Bearish divergence on RSI builds scope for downside in the pair.
Stochs are also biased lower and MACD line is showing a bearish crossover on signal line.
Downside likely to test 100-DMA at 0.9983. Bearish invalidation only above trendline resistance at 1.0185.
Violation at 100-DMA finds...
A bullish '222' Gartley pattern is forming with entry point D resting exactly upon the trendline.
FX_IDC:AUDCAD
Entry point : 1.0061
Stop Loss : 1.0007
Take Profit 1 : 1.0136
Take Profit 2 : 1.0182
After price hit a resistance and it formed a fractal then it came back down bouncing off on the fractal zone giving us another chance to enter the market. We boxed the price in waiting for outside trading so we got in after indecision candle. First target we are shooting for is 1.03238 but we might get a bit ranging (Kijun is getting flat). On top of that there is...
Hi Freedom Traders,
in the 60min chart of the audcad a completion of a bullish bat pattern would give us a high probability trading chance.
A completion of a gartley pattern would also give us a trading edge.
Decision time - which trading setup would you prefer trading? And why?
You find possible entry and exit levels for minimizing risk and maximazing profits...
Price is at a LRE zone.
As mention many times, it is a key resistance and price has not broken it yet.. I am still bearish on it.
so long as 1.005 holds, price will go down.
