AUDCAD Structural S/R Flip| 200 MA| Daily Resistance Target
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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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.
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 ⚔️
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.