FX:AUDCAD   Australian Dollar/Canadian Dollar
Price has recently consolidated above a long term resistance line which has now changed roles to become support. It has just broken out of its short term bearish trend , with a change of structure being a high lower highlighted by the yellow box. I will look to take a long entry around the pink box which lines up nicely with the 0.618 fib level and I will also look for a break of the short term trend line as another confluence. I am open to any feedback, please leave your comments :)

Comments

It makes good sense! what would be your exit/TP1?
+1 Reply
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