AUDCAD Daily confirmation - bearish

3 thg 12, 2021

Hello

Analysis AUDCAD gives us clear view on trend dirrection. Finnally big moves are happening, by confirmation on daily chart.

We have published analysis for learning reasons and for trading reasons.
Analysis present first strong move from last daily swing. Price started looking for new territory and testing lower spots.

Overall picture on daily giving us data about possible range flow, but it actually never happend, because the flow continue straight to continuation of overall bearish trending.
As you can see, price tried to touch fourth touch at daily resistance 0.93615. But bearish guy decided to not touch it. So everyone who was trading lower timeframes failed as a bull.

So on when price on daily broke major support level aroung 0.9124, it also retraced it. And here we are at the moment, when dailys retraced from the previous territory. We are giving away description and short analysis on H4 and Daily timeframe. Analysis presents late entry, which is not good, but it is still okay for traching the price and get into a trade. But be aware of 1/1 ration and risk management.

Thanks
Elitefxacademy