AUDCAD long setup
AUDCAD forming a potential long setup.
Price hit a potential demand zone and might bounce off it for a potential long trade.
Price broke out the resistance channel (blue line) early and is now testing it on a correction of that impuls, so it clearly is a key level where price can potential bounce or have a valid fake out to short.
But right now I'm betting long if price breaks the previous local high, which will indicate a change of character, combined with the q-trend printing white candles and a hull suite going green and up.
Let's go!
Price hit a potential demand zone and might bounce off it for a potential long trade.
Price broke out the resistance channel (blue line) early and is now testing it on a correction of that impuls, so it clearly is a key level where price can potential bounce or have a valid fake out to short.
But right now I'm betting long if price breaks the previous local high, which will indicate a change of character, combined with the q-trend printing white candles and a hull suite going green and up.
Let's go!
Comment:
How things look on the 15 minute chart.
Comment:
I got somewhat of my signals going, but price never closed above the local high and now that price broke a htf low, the bias is more to the downside. Still two potential setups in the making.
Trade active:
Trade closed: stop reached