AUDCAD- Retracement of Liquidity/Supply Zone

2021年5月2日

Technical Analysis:
-From the 4 Hour and 1 Hour chart show strong bearish momentum.
-Price has been in a downtrend since 26th April 2021.
-We should wait for a breakout and a retracement of the supply/liquidity zone to look for a short setup.
-According to the algorithm, price could drop down 0.44% for the week and a further 0.60% for the month.
-This is a good indication to enter short on this position.

Fundamental Analysis:
- There are are no high impact news for Monday 3rd May.
- For AUD, there are two major impact news on Tuesday 4th May and I would avoid trading this pair nearing the time of news release.
- For CAD, there are two major impact news on Friday 7th May and I would avoid trading this pair nearing the time of news release.

Sentiment Analysis:
- According to market sentiment, 94% of retail traders are short on this pair.
- Normally I would go against the retail traders as 90% of them lose their capital.
- Asset managers and institutional Investors are all placing short positions for this pair.
Lets see how this trade plans out!
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2021年5月5日

交易结束：到达止损