AUDCAD working 200-280 pips zone going side way.....
AUDCAD been side way working its way between a 200-280 pips zone creating a pennant pattern.
due to this sideways move this pair has created a pennant pattern.
now pennant pattern works best continuing trend HOWEVER it would and there is a possibility that breaks out the other way around.
This pair has bounced from the lowest low 0.8330 last 7 years.
so the possibility of bouncing from here up is high.
Game plan1. Shorter time frame, trading the pennent zone and gaining the pips inside the zone.
longer time frame: waiting for the pennant to break out and place the trade then
due to this sideways move this pair has created a pennant pattern.
now pennant pattern works best continuing trend HOWEVER it would and there is a possibility that breaks out the other way around.
This pair has bounced from the lowest low 0.8330 last 7 years.
so the possibility of bouncing from here up is high.
Game plan1. Shorter time frame, trading the pennent zone and gaining the pips inside the zone.
longer time frame: waiting for the pennant to break out and place the trade then