Long on AUDCAD using Fib and trendlines
Using only technical analysis, found some confluence between daily trendlines and a Fib retracement @ 61.80% on a daily chart. I believe that price may bounce on the middle trendline targeting the upper channel resistance trendline. Stop loss is placed on the Fib @ 50%. Will however be prepared for price to break the middle trendline, and in that case wait for the next setup in the direction of the uptrend that is the bounce of the lower support trendline.
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