AUDCAD bounced off top of channel as expected (see past AUDCAD idea linked).
This trade profited over 100 pips.
Waiting on a break of .9500 area and a close under it. This will confirm more selling to the bottom side.
Indicators:
1. Weekly trend is still downwards.
2. Weekly RSI overbought, now in a strong sell zone
Entry:
Once we have a break of channel, sell on the retest of the bottom channel (new resistance).
TP 1: next support area of 0.9426
TP 2: higher time frame support of 0.9283
Good luck trading!
Charles V
cvfxmanagement.com
cvfxwealth
Trading made simple
This trade profited over 100 pips.
Waiting on a break of .9500 area and a close under it. This will confirm more selling to the bottom side.
Indicators:
1. Weekly trend is still downwards.
2. Weekly RSI overbought, now in a strong sell zone
Entry:
Once we have a break of channel, sell on the retest of the bottom channel (new resistance).
TP 1: next support area of 0.9426
TP 2: higher time frame support of 0.9283
Good luck trading!
Charles V
cvfxmanagement.com
cvfxwealth
Trading made simple
ノート
Bottom of channel broken as of this morning 8/3. Wait for daily to close under the channel to look to sell.
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