AUD.CAD - Position Breakdown
Whether you are a day or swing trader, this is one pair that had plenty of indepth opportunities to take this pair long.
Below i have given 5 of my basic reasons for taking this position.
1. Target was set at the Daily historical trendline dating back to April 2014
2. Daily RSI was at 69.32 giving an indication there was still room to push higher in the coming days.
3. 4hr EMA & bullish trendline holding as strong support.
4. 4hr price making clear HH's and HL's dating back to the 06.01.2017
5. 1hr perfect consolidation period with bullish RSI divergence
Have a great week.
Below i have given 5 of my basic reasons for taking this position.
1. Target was set at the Daily historical trendline dating back to April 2014
2. Daily RSI was at 69.32 giving an indication there was still room to push higher in the coming days.
3. 4hr EMA & bullish trendline holding as strong support.
4. 4hr price making clear HH's and HL's dating back to the 06.01.2017
5. 1hr perfect consolidation period with bullish RSI divergence
Have a great week.
Comment:
Trendline holding as support, awaiting a short setup into later this week.
Comment:
Potential short opportunity in the coming days.