AUDCAD Buy Idea
W1 - Price respected strong support zone again.
D1 - Bullish divergence, price pushing higher. We want the price to break above the high at 0.9790, creating higher highs.
H4 - Price respecting downtrend line. Both directions are possible from here. In this case there are two possible scenarios to confirm bullish momentum.
Scenario 1 - Price to create higher highs and we can go long after correction.
Scenario 2 - Look for triple wave up, followed by double wave down and then we can go long with the breakout.
D1 - Bullish divergence, price pushing higher. We want the price to break above the high at 0.9790, creating higher highs.
H4 - Price respecting downtrend line. Both directions are possible from here. In this case there are two possible scenarios to confirm bullish momentum.
Scenario 1 - Price to create higher highs and we can go long after correction.
Scenario 2 - Look for triple wave up, followed by double wave down and then we can go long with the breakout.
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