The AA for Aussie Canadian from the 12th.
Good afternoon Dynamic Traders,
Today I am reviewing the AA trade of the AUDCAD mentioned last Tuesday.
Price action has been holding in the consolidation range since bringing this to your attention with resistance just north clustering at the DT formation and figure with no BOB.
All the criteria were in place but a possible slight pause for breath has occurred before the move I was expecting could happen.
Perhaps this will still occur but a more conservative approach could be use of the ESLT on the BOB should this happen.
Depending on your stance you are either in this trade with some profit depending on management or awaiting an entry.
If it is the second option put this on your watchlist as further upside is available and entry off your lower timeframes could be fruitful.
As always please ensure to do your own analysis.
Charts courtesy of TradeStation.