#AUDCAD - Tendency: Bearish
Observations:
I - Candle sticks have formed weakness
ii - RSI shows overbought
iii - Price reached a key level at 0.8900
Note:
I - I won't take this trade until i see a more clear reversal signal on the 15min timeframe
ii - If price pullsback and rejects the 0.8800 level and begins to push lower, I will take another sell and the 3 blue lines will be my 3 take profit levels
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Observations:
I - Candle sticks have formed weakness
ii - RSI shows overbought
iii - Price reached a key level at 0.8900
Note:
I - I won't take this trade until i see a more clear reversal signal on the 15min timeframe
ii - If price pullsback and rejects the 0.8800 level and begins to push lower, I will take another sell and the 3 blue lines will be my 3 take profit levels
Like and Follow me to support more analysis
Note
Further Observation revealed that price also formed a Gartley Pattern. That means my initial observation that price might continue to shoot down was right.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.