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johanholmberg

Looking to go long on bounce at M/W trend line

Long
Australian Dollar/Canadian Dollar (FX:AUDCAD)  
johanholmberg  
FX:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators LONG AUDCAD trendcontinuation Divergence oversold correction
4
0
trendanalysis chartpattern indicator long audcad trendcontinuation divergence oversold correction
Price went back up over monthly/weekly trend line into the rising wedge. Strong weekly bullish engulfing formed at break and now correcting that move. Pinbar on touch of trend line and bottom of Bollinger Bands in 4H chart indicating lack of movement continuing down. But i expect a small down move before bulls take over. Divergence in MACD and Stochastic with Stochastic closing in on 20 level indicating over sold.
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