Hello everyone:
AUDCAD is showing some nice price action structures that can lead to some short term downside move.
We saw the price action had a potential continuation correction after a strong bull move.
However, price did not impulsively move up, rather it formed another corrective structure moving up gradually.
The last bit of price action formed an ascending channel structure, and within that a another smaller channel in the making.
I would like to see a breakout from the smaller channel, and impulsively move out of the bigger structure to confirm the downside.
thank you
AUDCAD is showing some nice price action structures that can lead to some short term downside move.
We saw the price action had a potential continuation correction after a strong bull move.
However, price did not impulsively move up, rather it formed another corrective structure moving up gradually.
The last bit of price action formed an ascending channel structure, and within that a another smaller channel in the making.
I would like to see a breakout from the smaller channel, and impulsively move out of the bigger structure to confirm the downside.
thank you
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Related publications
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.