AUDCAD 30m Analysis
The 0.9390 (roughly 0.9400) proved to be a turning point and now I'll be waiting for the fall of AUDCAD
The 50 SMA has turned into a dynamic resistance
Price is approaching the dynamic resistance and the 50% retracement (minimum required for it to be consiered a correction)
Overall, it looks like a distribution phase ready for markdown
The 50 SMA has turned into a dynamic resistance
Price is approaching the dynamic resistance and the 50% retracement (minimum required for it to be consiered a correction)
Overall, it looks like a distribution phase ready for markdown
Note
Full analysis:
Trade closed: target reached
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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.