AUD/CAD Possible long incoming (+105 PIPS)

Aug 22, 2022

If the 22/08 candlestick closes with the 3 MA's crossing in it, I will be looking to open a buy position on AUD/CAD. I will first wait for the 23/08 candlestick to close above 0.889. If we see this scenario happen, we can look at the pair from a bullish perspective, with the RSI crossing the 50 threshold, the candlestick closing above the ichimoku cloud, all while the convergence line is floating above the base line.

TP1= 0.906
TP2= 0.911
SL= 0.891

This is my personal TA, please do share your insights!

Aug 22, 2022

Note

The 22/08 candlestick closed with all 3 MA's included. RSI at 50.88, candlestick closed above ichimoku cloud, and convergence line above base line.

This is looking promising, I will be looking at the behaviour of the chart tomorrow, and if 23/08 candlestick closes above 0.889 I will definitely open a buy.

Will open a smaller position buy soon as market opens, with a SL at 0.886 and leaving TP open, in order to ride the wave in case tomorrow is bullish.