Predictive trading.
Because of the momentum shooting through this area due to news there is a lot of pressure that will push price to upside once touched. It also helps that this area is very small meaning i do not have to wait for price action but put a limit order that will get an immediate bounce on touch. It also helps that this trade lines correlates and lines up with other pairs. Along with this analysis , aud is becoming stronger than cad.
Note
Stop below the low of the candle that passed through ourarea
Note
trade is now on the back side . to go short. market trend has changed
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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.