AUDCAD is in a long downtrend. While trading with the trend, (on the 4hr timeframe) AUDCAD has made a consolidation, broken through it and is now retesting it. On the 1hr timeframe, AUDCAD has made a double top. Entry on red candle. Stops above support zone. Targeting the next demand zone for a 1:3 RR. Moving stop to break even at 2 RR.
Give this idea a like if you agree with this trade:)
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.