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Audcadsetup

AUDCAD Past Support To Become Future Resistance Short SetupHi All... AUDCAD on the Monthly/Weekly broke down from a key level support making a lower low lower then the previous low, Now the market has retraced to the past support level that has a high chance to become future resistance, A good way to see if it will hold as resistance is to wait for the 4 hour chart to break the counter trend line and take out the most recent low that should give us a powerful indication that the market is most likely heading back down
Short
by ElyaStein
AUDCAD ShortExpected to drop down to 0.89307 Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Please add a comment... Positive feedback and constructive criticism are important to authors and the community.
Short
by Sibusiso1991
1