Long Idea on AUDCAD
Price is currently in a bullish sequence as it impulsively broke our most recent highs. It is now correctively falling back into our pocket of demand, we also have a falling wedge pattern which is a bullish reversal pattern and the 3rd touch lines up with our pocket of demand.
We have other confluences such as a fib level which i have left out to keep the chart clean.
We have also had two breaks lower thus taking liquidity from week hands and getting traders stuck on the wrong side of the market
I will be waiting for price to fall into our area of demand and wait for a candlestick confirmation in the form of a rejection before entering a long
We have other confluences such as a fib level which i have left out to keep the chart clean.
We have also had two breaks lower thus taking liquidity from week hands and getting traders stuck on the wrong side of the market
I will be waiting for price to fall into our area of demand and wait for a candlestick confirmation in the form of a rejection before entering a long
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