AUDCAD - Week 24
Hello friends, as we see that the price is moving slightly in an upwards channel, so we will be looking for some longs from a cheaper price if the price comes back to the channel. We can see the divergence already formed on the balanced volume (blue line) as the market closes but there is still room at the downside to the bottom channel line for the divergence to play on. There can still be a pullback until 0.92700 area, we have to watch the price and the balanced volumes carefully after the price hits the bottom channel line.
If things go as planned, a risky entry can be at around 0.93200 area, or you can wait for the retracement and enter at around 0.93500 area. Both have good RR's.
If things go as planned, a risky entry can be at around 0.93200 area, or you can wait for the retracement and enter at around 0.93500 area. Both have good RR's.
Trade active
Entry: 0.93370SL: 0.93120
Trade closed: target reached
50 pips reached. Closing half of the positions
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.