audcad is working on a divergence
The pair has created a divergence with MACD, now price broke 50 sma in h4 chart and is aboove a falling wedge, this situation usually leads to a slow reverse, we have to keep our eyes on h4 and h1 timeframes before planning a long trade, pay attention to those red levels, they are the so called liquidity pool (look how strongly the price reacted to them even in daily timeframe), especially the lower one.
If you decide to open a long use a break of the moving average with 3 CANDLES as a signal to close in loss, do not place a phisical stop loss because it could be hit by the noise of the market, set the upper resistance as a take profit, wait before opening a positions, analyze in h1 chart, as soon as the volumes increase the market will push.
If you decide to open a long use a break of the moving average with 3 CANDLES as a signal to close in loss, do not place a phisical stop loss because it could be hit by the noise of the market, set the upper resistance as a take profit, wait before opening a positions, analyze in h1 chart, as soon as the volumes increase the market will push.
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