Lingrid | AUDCAD trend CONTINUATION trade

5 thg 12

The price perfectly fulfilled my last idea. It hit the target level. AUDCAD made a significant nosedive, breaking through a support level that had been respected multiple times in the past. This support level has now transformed into a resistance zone or swap zone. The price has since bounced off the support level at 0.9000, presenting an opportunity to short the market in anticipation of a continuation of the bearish trend. On the daily timeframe, the market is making lower lows, indicating a downward trend. If the price rejects the swap zone, I expect it to move to even lower levels. My goal is support zone around 0.90250

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻