Two possible roots to 0.94
Either get a retest of previous structure
or we will just consolidate in and around a previous consolidation zone and then move higher.
either way i'll be looking to trade the break of the consolidation zone
Looking for price to retrace to one of the two levels (0.89900/0.90500) before going long. If price breaks. and closes below 0.89200, the trade idea is invalid
AUDCAD H4
I was expecting a further push down to the weekly zone, that can still happen, but as of now, we have H4 support, divergence, and hammer formation!
Looks great for a buy!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past...
A Bat pattern on the 60 on AudCad which because it comes at a decent support level you can use it with extended taregts rather than conventional and take as a counter trend setup.
AUDCAD ON WEEKLY
We are approaching a very key demand zone, I believe we will get at least a small bounce from there up to the trendline.
We can very well move all the way to the top of the weekly consolidation zone, which will be a very long term trade.
Wait for price action!!
1. This profile is for educational purposes ONLY!
2. The setups given are my own...
