AUDCAD - Bulls Steppin in!

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈AUDCAD has been overall bullish trading within the rising wedge pattern marked in blue.

Today, AUDCAD is retesting the lower bound of the wedge.

Moreover, it is approaching its previous weekly low.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of weekly low and lower blue trendline acting as a non-horizontal support.

📚 As per my trading style:
As #AUDCAD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.