AUDCAD: Continuation of the rally in short term?

13 Haz 2023

From a technical point of view, a bullish consolidation is possible in the short term. If we look at the intraday chart, the AUDCAD pair could develop a bullish impulse structure 1-2-3-4-5.
An interesting strategy could be to start with a small size and add step-by-step if the trade goes in the right direction.

Trade with care!
Like 🚀 if my analysis is useful.
Cheers!

13 Haz 2023

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13 Haz 2023

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5' chart: Potential Pattern

14 Haz 2023

Not

The pair should be able to reach the resistance area around 0.9030, and from there it will decide a lot of our setup, let's see…

14 Haz 2023

Not

🔴On 15' chart the structure is interesting and hangs on a small support at 0.9023, if the price action manages to stay above it is possible the formation of an impulsive structure (12345).

At the same time, if we look at 15' candlestick chart, we see potential harmonic structure forming, but to do this we need to see resistance breakout (R).

For me it is always very difficult to follow time frames as small as 15', because the risk of failure is really very high, but at the same time, it could be useful for following short-term dynamics.

14 Haz 2023

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14 Haz 2023

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🔥Target Area: 0.9090/0.9100🔥

14 Haz 2023

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14 Haz 2023

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🔴 If our harmonic structure works properly, it should trigger some corrective structure (wave 4) before a new bullish leg (wave 5).

15 Haz 2023

Not

🔴 After the FED announcement, we saw high volatility but the basic structure remained intact. On the 15' chart we still have a harmonic.


No change on 1H chart, bullish impulse structure is still forming con Target Area around 0.9090/0.9100.

15 Haz 2023

İşlem kapandı: hedefe ulaştı

Target hit