AUDCAD 2 possibilities
Scenario 1: Price seems to be rejecting the 61.8 fib. I would wait on the break of the counter trend line and support + a retest to enter a short.
Scenario 2: If price keeps pushing and breaks the daily descending trend line, I would wait on a retest of the ascending trend line and enter a buy.
Patience is key. Set alarms and wait
Scenario 2: If price keeps pushing and breaks the daily descending trend line, I would wait on a retest of the ascending trend line and enter a buy.
Patience is key. Set alarms and wait
Note
Daily view
Note
Sell stop placed. Lets see a break. AUD is respecting weekly channel and is weakening.
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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.