AUDCAD long setup

2019年10月15日

On H4 the pair retraced to the 61.8 fib level which, to most people exemplifies a breakout. Most times this is wrong as the market makers will pullback to this area (where a lot of folks put their pendings for breakout trades), grab all the liquidity that's sitting there, and then pull away in the opposite direction which is the intended trend. Sometimes they will even stretch it out an additional 10-20 pips to get your hopes up only to take it all away from everyone. If this happens to you, close your trade and go the other way along with them. Set your TP every 65 pips all the way up to .9085 area at which time we should see signs of a slight pullback for more liquidity. Let me know of your thoughts and ideas and analysis below. We're all in this together, let's make some money together, cheers!