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AUDCAD - Demand Zone
Australian Dollar/Canadian Dollar
Long
AUDCAD - Demand Zone
By RaynLim
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Oct 16, 2022
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Oct 16, 2022
AUDCAD has reach the other end of the Bearish Parallel Channel, it gives counter-trend traders an opportunity to engage the trade.
On a more conservative approach, counter-trend traders could wait for a double bottom with RSI Divergence on the 1hourly chart.
What is crucial in the setup is that the candlestick shouldn't break and close beyond the blue dotted line.
askforex100
AUDCAD
Candlestick Analysis
candlestickpattern
countertrend
Demand Zone
Descending Channel
Parallel Channel
parallelchannels
Supply and Demand
RaynLim
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