AUDCAD – Bullish Trade Setup (short term)

9 Apr

✅ Key Observations:
Timeframe: 1 Hour

Signal: Bullish Divergence on RSI

Trend Context: Likely in a pullback or accumulation phase within a higher timeframe structure

🔍 Technical Confluences:
RSI Divergence: Price made a lower low while RSI made a higher low – classic bullish divergence

Potential Support Zone: Price likely bouncing from a demand zone

Volume (if visible): Look for declining sell volume or spike in buy volume

📈 Trade Plan – LONG Position
Entry:

On confirmation candle (first strong bullish candle after divergence)

OR break of minor resistance/trendline above divergence pattern

Stop-Loss:

Below the recent swing low (beneath divergence point)

Take-Profit Targets:

TP1: Previous high / structure resistance

TP2: Extension of the move, possibly around 1.27 or 1.618 Fibonacci extension from the swing low

Risk-Reward Ratio: Minimum 1:2

⚠️ Risk Notes:
If price fails to break structure or gets rejected at a minor resistance – re-evaluate

Best to enter when divergence aligns with a support zone or trendline

10 Apr

Dagangan aktif

TP 1 Hit