Possible BUY on AUDCAD

Now you know how I feel about CAD pairs (they can be so volatile and create meaningless and annoyingly long wicks) so I would tread softly while trading this pair. Meaning, trade small with so you can be a little more liberal with your stop-loss. But this could be my coveted DIAMOND setup!

Here's why I'm interested in this trade...

possible counter-trend breakout if the bulls push the price over where I drew my trend line
price is trading above a pretty resilient 200-EMA
the MFI shows the price as being oversold in this trading period
the MFI also shows bullish-divergence in contrast with the lower-highs created by the charts price action.
the MFI is rising meaning the demand is rising. And price follows demand.

Be safe and do your own DD. I Will watch this... but I will NOT make a move until price shows strong bullish action.

Emir iptal

I hate CAD pairs I swear lol. No biggie, it never did anything to put any real size in, and for that reason, I'm out. ✌🏾

Not

By the way, I'm out unless this thing turns around. It could just be consolidating for a big push in either direction. In that case, I will be watching for any bullish action to be interested in this again.

İşlem kapandı: hedefe ulaştı

Caught about 30 pips on this. I knew it was going to break up but that consolidation channel probably took a lot of us out.

FXTwentyOne

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.

FXTwentyOne

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