AUDCAD SUPPORT AND RESISTANCE TRADING, STRONG KEY LEVEL
THIS IS JUST MY TRADING PLAN, NO GUARANTEE FOR THIS MOVEMENT. BUT I ALWAYS TRUST MY ANALYSIS.
As you can see order block is created around 0.90270 - 0.90720, this indicates accumulative
buys on this area which makes this area a strong support so we place our stop loss below this area
at 0.90024 stop loss.
After buying there is this strong key level that needs to be break in order to push the price higher,
which i think it might be an easy break on this key level because order block is already created.
The price may fluctuate in the next weeks. AUDCAD is not complicated to trade you just need
the basics.
After trake profit 1 we might expect short retracement before pushing price again and after this
I might look for a cup handle pattern.
I will update you soon! GOOD BLESS!
STOP LOSS IS A MUST!
As you can see order block is created around 0.90270 - 0.90720, this indicates accumulative
buys on this area which makes this area a strong support so we place our stop loss below this area
at 0.90024 stop loss.
After buying there is this strong key level that needs to be break in order to push the price higher,
which i think it might be an easy break on this key level because order block is already created.
The price may fluctuate in the next weeks. AUDCAD is not complicated to trade you just need
the basics.
After trake profit 1 we might expect short retracement before pushing price again and after this
I might look for a cup handle pattern.
I will update you soon! GOOD BLESS!
STOP LOSS IS A MUST!
Comment:
WE ARE ON THE MOVE, KEY LEVEL HIT, MUST RETRACE IN THE NEXT HOUR BEFORE PUSHING THE PRICE AGAIN