Possibly a Strong BUY on AUDCAD

16 мая 2020 г.

This pair has been on my radar for a little while now. Especially after this 4-hour chart support zone held up three times in the last 7 days. Here's what I'm seeing:

• Support zone tested 3x and holding strong on the current (4th) retest
  
• Price miserably breaks out of small recent downtrend sideways before testing that support zone again (like we wouldn't see it happening smh)
  
• The last 2 candles develop a lower-high and a lower price, yet the MFI below is rising with higher volume representing higher demand.
  

With this rise in demand and lower price, I expect the price to correctively rise and match that demand in addition to matching the 200 Exponential Moving Average that's trying it's best to keep this uptrend bullish.

Let me know what y'all think. This is just an idea trade at your own risk. I will say though that I'm glad the AUD and the CAD don't have any high-impact economical news in the next week. Therefore news shouldn't be too much of an issue volatility wise (unless the price of oil makes some type of heroic rebound ultimately carrying the CAD, but I don't think that'll happen this week).

~BK Hilton

17 мая 2020 г.

Заметка

Ok, so I initially got in the trade on Friday and took an early entry. Closed out of that and now I'm back in it. Pretty good risk:reward on this one if price goes up. Will be watching this...

18 мая 2020 г.

Заметка

Still in this and profitable. Cheers 🥂

18 мая 2020 г.

Сделка закрыта: достигнута стоп-лосс цена

This worked out beautifully. I took profit on 3 entries and I'm now out of this trade as the price action is no longer confirming my reason to be in it. Could still go up, or could reverse. Regardless, I'm out.

18 мая 2020 г.

Сделка закрыта: достигнута тейк-профит цена