AUDCAD: A Roadmap for the Next Sell Setup
-INTRODUCTION-
AUDCAD has recently arrived at a new lower low at the 0.8930 level. From that support level, the price retraced, forming a very nice looking bearish flag channel. Therefore, we expect the price to retest the previous high at 0.9100 level.
-TRADING PLAN-
We expect the price to rise and retest the previous high at 0.9100 level. From that resistance area, we will observe for a consolidation pattern. After a breakout from the consolidation pattern and also from the bearish flag channel, we will then prepare to enter our sell positions targeting the recent low at 0.8930 level.
Next week should provide good opportunities!
Check out our potential trading setups for the next week below :)
AUDCAD has recently arrived at a new lower low at the 0.8930 level. From that support level, the price retraced, forming a very nice looking bearish flag channel. Therefore, we expect the price to retest the previous high at 0.9100 level.
-TRADING PLAN-
We expect the price to rise and retest the previous high at 0.9100 level. From that resistance area, we will observe for a consolidation pattern. After a breakout from the consolidation pattern and also from the bearish flag channel, we will then prepare to enter our sell positions targeting the recent low at 0.8930 level.
Next week should provide good opportunities!
Check out our potential trading setups for the next week below :)
