AUDCAD - My Trading Plan in a picture

22 במאי 2022

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

AUDCAD is overall bearish trading inside the orange channel so we will be looking for trend-following sell setups.

Moreover, the blue zone is a support turned resistance and a supply zone.

This highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper orange and green trendlines. (acting as non-horizontal resistance)

As per my trading style:
As AUDCAD approaches the purple circle, I will be looking for bearish reversal setups (like a double top 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