WK22, AUDCAD, Long idea, multi time frame analysis
Daily analysis
The strong resistance zone of 0.913 - 0.914 was finally broken last week after several retests in the last 12 months. The last two days have seen rejection candles entering but closing above this zone.
4H analysis
Price is very close to the top of this resistance zone therefore I will place a buy trade with SL just below the bottom of the zone
Target 1 - 0.92275 (RR: 3.23)
Target 2 - 0.93770 (RR: 8.75)
The strong resistance zone of 0.913 - 0.914 was finally broken last week after several retests in the last 12 months. The last two days have seen rejection candles entering but closing above this zone.
4H analysis
Price is very close to the top of this resistance zone therefore I will place a buy trade with SL just below the bottom of the zone
Target 1 - 0.92275 (RR: 3.23)
Target 2 - 0.93770 (RR: 8.75)