TheSignalyst

AUDCAD - Potential Bullish Reversal!

Long
FX:AUDCAD   Australian Dollar/Canadian Dollar
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AUDCAD is approaching daily support in green so we will be looking for buy setups.

on H4: AUDCAD is forming a channel but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

Meanwhile, until the buy is activated, AUDCAD would be overall bearish can still trade lower in the green support.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL indicator
http://www.RichTL.com

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