Bullish Trade Setup on AUDCAD
Het Traders,
Here we go on AUDCAD, looking at the chart on 1W the pair broke out of a year descending channel and now making a fair turn to the upside.
With a steady HH and HL he keeps the momentum and it reveal a new Bullish channel on Daily TF.
However, the market just made an absolute retest back to weekly Demand zone which also serve as multiple level of market structure for the pair late DEC.
Having a closer looks at the pair on 4H TF, it just broke the extensive LH & LL journey it embarked on since February, which could indicates a new Bullish run back to retesting the upper band of the channel.
Wee, this is not an indicator to buy blindly, i an anticipating for a more bullish volume to put the 1st supply to test then follow by a pullback to retesting the BOT (trendline) then i will find my entry afterwards.
Watchout.
Here we go on AUDCAD, looking at the chart on 1W the pair broke out of a year descending channel and now making a fair turn to the upside.
With a steady HH and HL he keeps the momentum and it reveal a new Bullish channel on Daily TF.
However, the market just made an absolute retest back to weekly Demand zone which also serve as multiple level of market structure for the pair late DEC.
Having a closer looks at the pair on 4H TF, it just broke the extensive LH & LL journey it embarked on since February, which could indicates a new Bullish run back to retesting the upper band of the channel.
Wee, this is not an indicator to buy blindly, i an anticipating for a more bullish volume to put the 1st supply to test then follow by a pullback to retesting the BOT (trendline) then i will find my entry afterwards.
Watchout.
Note
TRADE ACTIVE AND PUSING FORWARD
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.