Await for a correction by using a trailing Stop-In below the trend line.
The upcoming CAD news release could be a trigger for a downward break as AUDCAD still in bullish mode with limited resistance levels to upside.
There is also a Divergence on the MACD indicator which indicates that price momentum may be weakening.
With Head & Shoulders patterns, the target can be approximated by measuring the distance from the neckline to the head and projecting this upwards from the break above the neckline. In this case it is an Inverse Head and Shoulders so the projection is the opposite.
The upcoming CAD news release could be a trigger for a downward break as AUDCAD still in bullish mode with limited resistance levels to upside.
There is also a Divergence on the MACD indicator which indicates that price momentum may be weakening.
With Head & Shoulders patterns, the target can be approximated by measuring the distance from the neckline to the head and projecting this upwards from the break above the neckline. In this case it is an Inverse Head and Shoulders so the projection is the opposite.
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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.
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.