MDSADI

Structurewise safe to short as it approaches correction zone

Kort
FX:AUDCAD   Australiensisk dollar/Kanadensisk dollar
I have been bearish with aud/cad since the beginning of the year and the bearish dive has played out ( see related ideas ), but now i am looking to consider re entering since we have a hefty pullback from swing low. Now , as i draw the structure here , it looks like .91-.92 can bring in a lot of friction as this were strong support zone once, which has acted as resistance in recent times. Therefore, even though falling oil prices puts CAD in back-foot, i am aiming to see price action next week and trade the range between .91xx and .85xxx. However , if its a full blown reversal back to the top would only be confirmed on a weekly closing candle above .93XXX+. For now, i would start shorting rally's from .91xxx-.92xxx
Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.