AUDCAD

8 Jul

Hello traders, let's look at AUDCAD - a beautiful trade that has taken place. Simply explained - on 4H we are still in an uptrend and that means that a pullback from the high that has been made, should follow. Knowing that we can look for sell to buy set ups, with a lower risk of course. If we drop on the lower time frame, we can see the structure flip on 15 min, very high in the market. As I know my HTF bias is bullish - looking at a price, I expect, or better said - my task for a price is to come down to the first buy zone at least, while already being in a sell position. And down there, either the demand for a price will bring buyers back into the market, or the price will drop lower. What I would ideally like to see next is break of 0.91850 .

A side note: As this is a counter trend trade, or reversal trade, risk is lower.

Trade well, T