Evening Traders,
Today’s Analysis – AUDCAD – breaking above daily support, price is likely to put in a retest allowing for a long trade with defined risk.
Points to consider,
- Strong bull impulses
- Daily S/R flip
- Daily resistance target
- Oscillators cooling off
- 200 MA visual guide
AUDCAD’s trend has put in multiple bull impulses with no proper lower high. Daily support is a trade location where a lower high is likely, a retest will confirm an S/R flip.
The daily resistance will be an immediate target, breaking this level will be very bullish.
Oscillators are both cooling off from oversold extended conditions, remaining above 50 will maintain a bullish bias.
The 200 MA is a key visual guide, breaking and closing below will negate a bullish narrative.
Overall, in my opinion, price is likely to retest daily support for further confirmation. Holding the level will establish a lower high, the next immediate target will then be daily resistance.
What are your thoughts?
Thank you for following my work,
And remember,
“It’s OK to be wrong; it’s unforgivable to stay wrong.” -Martin Zweig
Today’s Analysis – AUDCAD – breaking above daily support, price is likely to put in a retest allowing for a long trade with defined risk.
Points to consider,
- Strong bull impulses
- Daily S/R flip
- Daily resistance target
- Oscillators cooling off
- 200 MA visual guide
AUDCAD’s trend has put in multiple bull impulses with no proper lower high. Daily support is a trade location where a lower high is likely, a retest will confirm an S/R flip.
The daily resistance will be an immediate target, breaking this level will be very bullish.
Oscillators are both cooling off from oversold extended conditions, remaining above 50 will maintain a bullish bias.
The 200 MA is a key visual guide, breaking and closing below will negate a bullish narrative.
Overall, in my opinion, price is likely to retest daily support for further confirmation. Holding the level will establish a lower high, the next immediate target will then be daily resistance.
What are your thoughts?
Thank you for following my work,
And remember,
“It’s OK to be wrong; it’s unforgivable to stay wrong.” -Martin Zweig
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.