AUDCAD Forecast
W1 - Price still has room lower towards the bottom of the bearish channel.
D1 - Price has created lower lows and most importantly we don't have any reversal signs.
H4 - Price broke below an important support zone and also based on the Heiken Ashi candles we have strong bearish candles in downward moving market conditions so it basically reflects a bearish environment, so until the condition changes my view remains bearish here.
H1 - Price is moving inside a triangle pattern and if the price breaks and holds below this triangle we may then look for sells with bearish evidences.
Alternatively if the price moves higher then the next areas to look for bearish evidences to join the bears would be the two important sell zones shown in the chart.
D1 - Price has created lower lows and most importantly we don't have any reversal signs.
H4 - Price broke below an important support zone and also based on the Heiken Ashi candles we have strong bearish candles in downward moving market conditions so it basically reflects a bearish environment, so until the condition changes my view remains bearish here.
H1 - Price is moving inside a triangle pattern and if the price breaks and holds below this triangle we may then look for sells with bearish evidences.
Alternatively if the price moves higher then the next areas to look for bearish evidences to join the bears would be the two important sell zones shown in the chart.
Komen:
This sell setup moved perfectly as per my plan and has provided wonderful returns!