AUDCAD: Double Time Frame + Sentiment Trading

We know that prices bounce between a level of the RANGE INDICATOR and another as if they were a ping pong ball ... At the moment prices have broken down one of these levels, which makes us think that, with good odds , the level of 0.9252 will be reached.

The SENTIMENT TRADING is clearly on the upside, with 86% of traders positioned higher on this exchange rate, which increases the probability of falling prices.
We also see that both on the daily chart and on the hourly chart, we have decreasing highs and lows, fundamental factor for there to be a bearish trend.

After a day and a half price increases, I am personally positioned short and set a target right on the level of the range indicator.

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2 - Comments

David McKeon

David McKeon - 08 febbraio 14:10 Reply

Christian Buhagiar

Christian Buhagiar - 08 febbraio 14:15 Reply