Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.95040).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9575). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a...
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Ascending Triangle Definition:
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
It is defined by two lines:
. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.
The higher lows...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.957). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic...
AUDCAD 4HR
See the RSI Diversion is negative for AUDCAD + Trend resistance + week resistance retest....✅✅✅ A perfect sell
Sell around 93700
Tp 93300
Tp 92700
Tp 92000
SL 0.94500
This is long trade use 0.01 or 0.02 as per your fund
PLEASE Follow SL
I took a retest on 1hr after seeing a breakout. But it was not a trade to be taken as 4hr was rejecting from resistance. So after I realise my mistake I decided to get out of this trade and took a 2 pip loss.
LESSON LEARNED: Always watch 4hr and daily timeframe when u want to take a trade.
