See chart of AUDCAD below for the discussion that follows.
AUDCAD is currently at a support level where it had a strong bounce from back in October of 2020, and it looks like it wants to do so again.
I’m already long NZDCAD which looks very similar to the chart above, so more things will have to fall in place before I will consider going long AUDCAD.
I wanted to see EURAUD (last week’s post) drop further into the support area before considering a long, which did not happen.
Remember to always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Honor those stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Thanks and Regards,
Trading SOS SOS