AUDCAD - Potential Buy
Updated
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MTPA: On the Daily time frame we have a downtrend starting from 25 Feb 21. The downward momentum however is fading. We might be in for a short or long reversal.
Price Action on the 1hour: Since the belief is that the Daily is losing the downward momentum we then have a bullish bias on today's trade.
Bias Checklist for entry on 1hour:
Good luck
Trade with LT
MTPA: On the Daily time frame we have a downtrend starting from 25 Feb 21. The downward momentum however is fading. We might be in for a short or long reversal.
Price Action on the 1hour: Since the belief is that the Daily is losing the downward momentum we then have a bullish bias on today's trade.
Bias Checklist for entry on 1hour:
- Obvious downtrend with a fading momentum.
- Price looks exhausted for trying to break 0.92000 level.
- Price rejected 0.91800 level stopping the buyers and inducing sellers.
- Price is at a Seller's Territory which can makes us believe that we are inducing more sellers.
Good luck
Trade with LT
Comment
Daily
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