PAIR IN FOCUS: AUDCAD
ACTION: LONG
This is a WEEKLY trade and will require some patience. Currently, there are RSI divergence signals on H1 AND WEEKLY charting, with both having opposing views.
On the H1 chart, there is BEARISH RSI divergence, while on the Weekly chart, there is BULLISH RSI divergence.
I believe the case for WEEKLY is stronger as Bullish Engulfing trigger has also appeared which signals a Long Bias.
Method to capitalize on this trade:
To short on H1 and then change to Long bias when price rebounds (in line with weekly long bias).
The TP level has been indicated, determine your own Stop Loss for this trade.
ACTION: LONG
This is a WEEKLY trade and will require some patience. Currently, there are RSI divergence signals on H1 AND WEEKLY charting, with both having opposing views.
On the H1 chart, there is BEARISH RSI divergence, while on the Weekly chart, there is BULLISH RSI divergence.
I believe the case for WEEKLY is stronger as Bullish Engulfing trigger has also appeared which signals a Long Bias.
Method to capitalize on this trade:
To short on H1 and then change to Long bias when price rebounds (in line with weekly long bias).
The TP level has been indicated, determine your own Stop Loss for this trade.
