AUDCAD SHORT IDEA
The pair is currently above a strong Support and resistance area. Confirm the area from the weekly time frame. I expect the price to retest this area. If it closes below the support, I will be going in for nice long to the next support at 1.915 drawn from the weekly time frame. There I'll be a minor support zone below, if the price closes below that area, then those who didn't get into a trade have a second time to do so. A head and shoulder pattern may form before the downtrend begins.
It's best you understand the supply and demand zones.
Commitments of Traders by the CFTC is a an informative way to trade with the big banks (Non-Commercial traders) or trade against the speculators (commercial traders).
It's best you understand the supply and demand zones.
Commitments of Traders by the CFTC is a an informative way to trade with the big banks (Non-Commercial traders) or trade against the speculators (commercial traders).
Note
Correction:*I will be going in for nice short to the next support
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.