"The markets can remain irrational longer than you can remain solvent."
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,151 Posts
Money moves the market, not an indicator.
AUDCAD sideways trading 12 replies
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DislikedHello fellow traders, Speculating downwards on h4 time frame. Thanks {image}Ignored
DislikedIt's too early to confirm since I don't yet know how the market will open on Monday, gaps, etc., but as of now the weekend, I have AUDCAD going up. But, the earlier pattern makes me think it'll go sideways first before going up. Anyone else looking at this pair? {image}Ignored
Disliked{quote} It looks like it's prone for a retracement, however these derivative pairs can be tricky for TA since the price action in the majors really drives the price action of these derivative minors. My TA for AU shows down while my TA for CU shows up, and based on that I'd have to say that we may see a small retracement, but as of now I think this trend has more to go.Ignored
DislikedThat AUDCAD buy isn't a trade I would take anyway because it's not a high probability trade due to the strong downtrend. But if it does go up, it would be interesting if it follows the previous price pattern.Ignored
Disliked{quote} What was CU from this post? lol I'm trying to make sure I understand and follow along.Ignored