Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 AUDCAD has been overall bullish, trading within the rising wedge in red.
At present, AUDCAD is approaching the upper bound of the wedge pattern acting as an over-bought zone.
Moreover, it is retesting a strong resistance zone in blue.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline.
📚 As per my trading style:
As #AUDCAD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📈 AUDCAD has been overall bullish, trading within the rising wedge in red.
At present, AUDCAD is approaching the upper bound of the wedge pattern acting as an over-bought zone.
Moreover, it is retesting a strong resistance zone in blue.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline.
📚 As per my trading style:
As #AUDCAD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
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.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
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.