Box-trading
Potential breakout and breakout and re-test tradesWatching for Breakout
AUDCAD has made a huge rebound higher before making a sideways move in more recent times.
As the daily chart shows ; in recent sessions price has consolidated and moved into a box pattern.
If we can see this box breakout inline with the previous momentum higher it could see the next leg higher continue.
This could also pave the way for potential breakout and breakout and re-test trades.
PRICE ACTION / TREND FOLLOWING VOLUME #3PRICE ACTION TRADING.
STEP FIVE
Draw the box, use a support and resistance bars.
STEP SIX
Find a PA ( Price Action ) reversal pattern.
PRACTICE,PRACTICE,PRACTICE AND PRACTICE
SEE YOU AT NEXT VOLUME !!
Update status
AUDUSD - Intraday setup ( box trading )We see nice retrace on resistance zone, so short on break of the box.
