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CaitlinAmanda

Possible setup for AUDCAD

Australian Dollar/Canadian Dollar (OANDA:AUDCAD)  
CaitlinAmanda  
OANDA:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators AUDCAD audcadshort audcadlong audcadanalysis audcadsetup
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trendanalysis chartpattern indicator audcad audcadshort audcadlong audcadanalysis audcadsetup
Price has been trending downward with clear lower highs and lower lows since the end of February 2021.
These are two possible scenarios that I see playing out.
I could buy when price breaks resistance and confirms the buy by retesting that broken resistance (now new support).
I could sell when price breaks support and confirms the sell by retesting that broken support (now new resistance).
Always wait on a retest to confirm the setup before any entry.
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