The Aussie Canadian intraday.
Good morning Dynamic Traders,
May I firstly apologise for the lack of posts these past two weeks without notification, but due to unforeseen circumstances it was not possible but hopefully the problem is resolved and posting should be back to normal.
The daily chart not shown is portraying similar characteristics but I have chosen the 4 hour chart of the AUDCAD for a possible intraday entry regarding a reversal.
As can be seen the price action is tagging the lower end of the former resistance area and is at a fibonacci cluster area, with RN, and has currently drawnback.
Due to me not wanting to chase the trade I shall await another entry point in conjunction with my rules as I have missed the aggressive stance now but this current bar could give that opportunity.
Use your tools for confirmation including RST and enter accordingly.
Charts courtesy of AdvancedGet.
Good luck to you all.