AUDCAD - This Morning's Short

FX:AUDCAD   澳幣 / 加元
This morning I fired off an idea to our Syndicate members looking at a short opportunity on the AUDCAD . What I was looking at was a bearish Bat formation that would also double as a potential trend continuation trading opportunity based off of my higher timeframe analysis.

Although price provided us with a pain-free move to our initial target level it looks as if price is now returning to my entry point & I may be stopped out for breakeven on the 2nd half of my position.

It'll be interesting to see how price action reacts at the retest of these highs. 2nd chances aren't as good as first strikes so I will certainly look to be conservative in my approach, but we may see a back and forth consolidation until Wednesday's Monetary Policy & Rate Statement.

If price were to break above our previous highs 9860s-70s looks like the next good level to look for potential shorts.

Akil Stokes
Forex Trader & Trading Coach
評論: No surprise that we broke the highs. Again 2nd test are harder to come by. Let's see if price can travel up to our next killzone
評論: Now actively looking for shorts on the AUDCAD at the higher level of structure. I'll either be in or not in the trade by 4pm est once the current candle closes


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Great analysis as usual Akil...I just checked GBP pairs, they are doing wonders. When are you coming to South Africa (for holiday or something) so that one can get to meet you in person?
+1 回覆
Akil_Stokes artwellhlengwa12
@artwellhlengwa12, Thank you. It's been way too long since I've taken a vacation. It's certainly on my travel list of places to go, i just have no idea when
nice 0.5 fib there i think it doesnt go up . If goes up its better more profits. sell it at 0.618 or 0.786 fib. market will drop eventually . that long bearish candle isnt there for nothing.
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@Ehsan666, We just have to keep in mind that the sellers already tried to push down from that level and we didn't see a full follow through. So it'll be interesting to see if they can hold once again or if we'll see a rotation at that level.
Ehsan666 Akil_Stokes
You are absolutely right . I didnt notice the push from 0.5. i though it was just a retracement. great point for trend continuation trading . Im just watching different pairs in 4h from previous years . I can see the nuances and the patterns .
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Ehsan666 Ehsan666
+1 回覆
@Ehsan666, You're welcome
@Ehsan666, Awesome!!
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