AUDCAD - quest for shorts
Next week I'll be fishing for shorts on this pair - literally, by using Fisher indicator on lower time frames for entries :)
Potential bullish harmonics are plotting on weekly and daily, which show us possible targets. The first cloud of targets is around 0.939 for completing harmonic on daily, and the second one is around 0.925, which would complete weekly harmonic. See charts below for details. Line chart comes handy to eliminate spike's noise and was used to define red stripes.
It can get rocky with CAD GDP data on Tuesday just before London open, and BoC Gov speech afterwards. But direction is set and will be followed until further notice.
Weekly:
Daily:
Daily line:
Fibonacci levels with the first set of targets:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Potential bullish harmonics are plotting on weekly and daily, which show us possible targets. The first cloud of targets is around 0.939 for completing harmonic on daily, and the second one is around 0.925, which would complete weekly harmonic. See charts below for details. Line chart comes handy to eliminate spike's noise and was used to define red stripes.
It can get rocky with CAD GDP data on Tuesday just before London open, and BoC Gov speech afterwards. But direction is set and will be followed until further notice.
Weekly:
Daily:
Daily line:
Fibonacci levels with the first set of targets:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Handel aktiv:
Shorted at 0.9492.
Kommentera:
I let that one go, don't need to manage it anymore. Target set to 0.939 and two trailing stops running.
Trade stängt: Stopp nått:
Trailing stops reached with ~90 pips profit.
Kommentera:
Next possible short entry would be around 0.947, let's see how it will play out.