AUDCAD Long Idea
A falling wedge formed at a strong support zone (1st 'reversal' confirmation). The price crossed the resistance trendline of this wedge (2nd 'bias' confirmation) and a retest is underway (3rd 'entry' confirmation). Looking to enter as illustrated on the chart. A violation of the support zone that the wedge bounced off from invalidates this setup (hence the sl area) and would prompt looking for sells after its retest (turning it into a resistance).
Tip: React to what the market is doing, do not enforce your ideas on it; and account for both scenarios so you're ready either way when they present themselves.
Tip: React to what the market is doing, do not enforce your ideas on it; and account for both scenarios so you're ready either way when they present themselves.
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