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Audcadanalysis

AUDCAD short after breakout and pullback for the week of 11 JulyPreceding trend – has been bearish since April. Current price action – Pullback to a major S/R zone. Factors of confluence: - Price is below the 50 EMA. - The breakout was very strong – note the large bearish candle that shows momentum with the bears. - The pullback is quite weak – note that it has taken 5 bullish candles to recover the gains made by the bears. I am not looking for a deep retracement in the zone because of the apparent strength of the bears. This will mean a wider stop but we still have the potential for a +2.3R trade. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management and stay patient in all your trades.
Short
by Trading_Vista
AUDCAD - Where to next?Happy Sunday! What I like to do on the weekend as the market is off, I analyse the market and various different assets LT & ST positioning, it will then be noted and I am ready for the week ahead. AUDCAD - It's brewing its one I did share and I am sharing it again on Trading view, it's a break to either direction, which makes great trade for next week! Be careful data wise regarding AUD. I've had questions regarding what it takes to become a trader? I will answer that here and I have answered that on my other posts and videos take a look but lot of people thinks its an over night change, they have large ego think they know it all when in reality it takes yrs of back testing your strategy, executing that plan precisely and then you got the psychology side in which people don't believe it exist but those that don't haven't really been in the game long enough. So, overall my answer is you aren't going to become a millionaire over night and you won't find many of the answers on various social media platforms either. For example one could say go buy X but they don't know what price to get in or even the reason why or stats behind it. There are great books based on various assets would be great start and then implementing strategy, that can be learnt by getting coached by real trader, yes it cost extern capital and when I mean real trader not those '3' days courses... There is not one set way of trading and that what makes trading amazing. Also, Bloomberg and CNBC IMO it's a throw off and doesn't help either it's same as trading signals, that doesn't help either. You got learn hard way to achieve great level of success and lower your ego and that is with anything. Lastly, yeah there will be people mocking you ' you want become trader' but it is possible when they mock, its just there large ego. Trading is bit like sports. Create your edge today! All the best, TJ
by Trade_Journal