AUDCAD buy set up -
The market is currently on a down trend since 18th Apri, market has bounced off Support and Resistance trend lines many times as i have pointed out on the chart. The market has now reached the green zone for a buy however the market has dipped below Support trend line and the weekly support and reversed of monthly zone.
Overall the trade is a buy up to resistance trend line with a target off around 80 pips.
The market is currently on a down trend since 18th Apri, market has bounced off Support and Resistance trend lines many times as i have pointed out on the chart. The market has now reached the green zone for a buy however the market has dipped below Support trend line and the weekly support and reversed of monthly zone.
Overall the trade is a buy up to resistance trend line with a target off around 80 pips.
Trade active:
0.92750 entry
Trade closed manually:
trade closed at trend line 0.92900