AUDCAD: Trend-Following Trading Setup 🇦🇺🇨🇦

Long

Australian Dollar/Canadian Dollar (OANDA:AUDCAD)

OANDA:AUDCAD Australian Dollar/Canadian Dollar

fibonacci doubletoporbottom pivotpoints audcad australiandollar canadiandollar cad trader fxtrade

AUDCAD is taking off from a strong support level.
The price formed a double bottom formation on 382 retracement of the last bullish impulse.
The trigger that I am looking for to buy the pair is a bullish breakout of a horizontal neckline.
I need an hourly candle close above 0.9255 structure as a trigger to buy.

In case of a new lower low formation on an hourly, the setup will be invalid.

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