AUDCAD Messy chart - explanation in comment

14 maj 2017Traders,

Picked up a nice potential trend continuation trade.
This is just a very messy chart because there are allot of indicators that indicate a zone for a potential trend continuation move.
Explanation below.

Best of luck

14 maj 2017

Komentarz

The identification of this analysis:

The market is in a downtrend. We want to see a reversal into the previous outside return movement before we predict that the market is turning around and continue to the downside

14 maj 2017

Komentarz

Second state:
Drawing some harmonic patterns
This minimize our killzone for a better RR

14 maj 2017

Komentarz

Third stage:

We've also got a AB = CD pattern in our killzone. + 1.272 fibonacci extension.