AUDCAD Opportunity 1:6RR
Price has been in a big range since 3rd June which means there will be a lot of retail activity trading these movements.
We've seen 3 strong rejections off the marked resistance so we'd like to expect this is becoming weak.
Price is currently sat at a 4hr Demand Zone which is also a 'Key Institutional Level' (meaning the market makers will have orders placed waiting around this level) .
A fake out has already happened so i would be on the look out for a bullish movement followed by a retracement back into the zone before we see a big bullish move, breaking the Retail Resistance and onto the strong marked 4hr Supply Zone.
This is a 1:6rr set up so if all goes to plan would be a nice trade towards the back end of the week.
Note - This analysis is for educational purposes and is not to be taken as a signal or financial advice.
Safe & Happy Trading Guys & Girls
We've seen 3 strong rejections off the marked resistance so we'd like to expect this is becoming weak.
Price is currently sat at a 4hr Demand Zone which is also a 'Key Institutional Level' (meaning the market makers will have orders placed waiting around this level) .
A fake out has already happened so i would be on the look out for a bullish movement followed by a retracement back into the zone before we see a big bullish move, breaking the Retail Resistance and onto the strong marked 4hr Supply Zone.
This is a 1:6rr set up so if all goes to plan would be a nice trade towards the back end of the week.
Note - This analysis is for educational purposes and is not to be taken as a signal or financial advice.
Safe & Happy Trading Guys & Girls
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