Last week I wrote about the bullish market condition in the AUDCAD, it is still bullish and will remain bullish until it hits the next LT resistance level.
Sometimes we need to patiently wait for our signal, it’s not like “we know” where the market is heading and we open our trade, we need to have good timing, that’s the main reason why we have a “trigger signal”. Anyway, our signal has been triggered and the Risk-reward ratio in this trade is pretty good, almost 8:1 so why not giving it a shot:
We’ll see what happens.
Tags: AUDCAD analysis