AUDCAD Daily Analysis
Godal Member's, Traders and Aspiring Traders . Todays shared post is on .
Pair : AUDCAD
Time-Frame : 4H
Biased : Bullish
Outlook : As the chart / price action shows since 25th of February where the first ( I ) Impulse is allocated ( I ), price action has gone one to form a strong Bearish trend, till it got broken on the 6th of April, going on to make equal new highs.
Despite the breakout, price action had a deep pulled back to recent support and lows. Currently price is showing signs of rejection so the grey box was allocated .
The grey box represents a range , this is a indication that the Bearish market is losing momentum and we could see a potential reversal with a potential market structure or pattern of a inverse head and shoulder or support level could hold till price action breaks the resistant level, giving the opportunity for a pull back and potential entry for further upside.
So this out look is based on the break of the red zone
Side note
I = Impulse
P = Pullback
C = Continuation
Pair : AUDCAD
Time-Frame : 4H
Biased : Bullish
Outlook : As the chart / price action shows since 25th of February where the first ( I ) Impulse is allocated ( I ), price action has gone one to form a strong Bearish trend, till it got broken on the 6th of April, going on to make equal new highs.
Despite the breakout, price action had a deep pulled back to recent support and lows. Currently price is showing signs of rejection so the grey box was allocated .
The grey box represents a range , this is a indication that the Bearish market is losing momentum and we could see a potential reversal with a potential market structure or pattern of a inverse head and shoulder or support level could hold till price action breaks the resistant level, giving the opportunity for a pull back and potential entry for further upside.
So this out look is based on the break of the red zone
Side note
I = Impulse
P = Pullback
C = Continuation