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!
Note
How things look on the 15 minute chart.Note
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
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.