Hello guys, here's my view on AUDCAD.
Price has broken previous high, creating a BMS (BREAK IN MARKET STRUCTURE) then heading back for a return to order block (RTO)
IF PRICE successfully mitigates bullish order block, we should get a higher price level.
Setup is invalid if price breaks that low.
Risk to reward: 1:3
Entry: 0.91668
SL; 0.91568
Price has broken previous high, creating a BMS (BREAK IN MARKET STRUCTURE) then heading back for a return to order block (RTO)
IF PRICE successfully mitigates bullish order block, we should get a higher price level.
Setup is invalid if price breaks that low.
Risk to reward: 1:3
Entry: 0.91668
SL; 0.91568
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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.