AUD/CAD is Approching Strong Strcture
AUD/CAD is trading inside a rising wedge. It's a reversal pattern. The pair is also at strong resistance.
We are looking for a breakout of the lower trendline to open short. Aggressive traders could also go short when price touches the upper line with stop loss above the resistance level.
Daily traders could trade between the wedge lines, but should use stop loss on both directions.
We are looking for a breakout of the lower trendline to open short. Aggressive traders could also go short when price touches the upper line with stop loss above the resistance level.
Daily traders could trade between the wedge lines, but should use stop loss on both directions.
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.