AUD/CAD: Market balanced since a while!
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the AUD/CAD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The market is still trending to the downside, currently moving inside a fair value area with sellers still slightly in control.
As you can see on the chart, an intraday bearish impulse pushed the price down, breaking a local key level and is currently retesting the lower value of its area, closed to an interesting demand zone, level of price where the market could find buyers pressure ready to step into the market.
When, where and why would I step into the market?
Usually, big fair value areas like this, are definitely tradable with a good strategy! However I wound not entering with any long position until the overall perspective will be bearish.
With a good demand, a possible rejection is expected and a movement from the lower value to the price control is most likely to happen.
The trading activity is quite balanced, and in this kind of scenario I would definitely be waiting for the price to reach the top of the value area and then eventually planning a short position to entry with the majority! At the moment this trade idea is only a directional forecasting and no action will be taken!
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The market is still trending to the downside, currently moving inside a fair value area with sellers still slightly in control.
As you can see on the chart, an intraday bearish impulse pushed the price down, breaking a local key level and is currently retesting the lower value of its area, closed to an interesting demand zone, level of price where the market could find buyers pressure ready to step into the market.
When, where and why would I step into the market?
Usually, big fair value areas like this, are definitely tradable with a good strategy! However I wound not entering with any long position until the overall perspective will be bearish.
With a good demand, a possible rejection is expected and a movement from the lower value to the price control is most likely to happen.
The trading activity is quite balanced, and in this kind of scenario I would definitely be waiting for the price to reach the top of the value area and then eventually planning a short position to entry with the majority! At the moment this trade idea is only a directional forecasting and no action will be taken!
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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