AUDCAD now it's a buy
Updated
Hey guys,
yesterday we took profit of our last AUDCAD trade that brought in more than 150 pips (see attachment). Now i changed my mind about this pair being the recent movements price has made. As you can see on the left hand side of your screen on the daily timeframe price is testing a daily structure level that acted as support. Being the case, we expect to see some difficulty breaking through. In the lower timeframe (4H-right hand side) price's put an engulfing candle with RSI OVERSOLD, right at that level which happens to be also a psychological number.
With all those conditions met i think this could be a good opportunity to buy the market hoping for a retest of the higs at 1,070.
Good luck!
If you have any question, feel free to write below.
Otherwise, see you in the next chart!
yesterday we took profit of our last AUDCAD trade that brought in more than 150 pips (see attachment). Now i changed my mind about this pair being the recent movements price has made. As you can see on the left hand side of your screen on the daily timeframe price is testing a daily structure level that acted as support. Being the case, we expect to see some difficulty breaking through. In the lower timeframe (4H-right hand side) price's put an engulfing candle with RSI OVERSOLD, right at that level which happens to be also a psychological number.
With all those conditions met i think this could be a good opportunity to buy the market hoping for a retest of the higs at 1,070.
Good luck!
If you have any question, feel free to write below.
Otherwise, see you in the next chart!
Trade closed: target reached
Target1 hit!Note
Stop moved to 0,9930. Banked in some more profit. Let's ride it till the top!Note
Stop moved to 0,9980.Trade closed: target reached
Closed manually second position at 1,0050. +260 pips from this trade. Not bad
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