We are looking at the AUDCAD pair. As you can see here, I have used the Fib Retracement tool to measure the retracement of the movement. From the 1 Day chart, the price have moved and touched the 61.8% on the retracement. Telling us that the movement will likely to go upwards. Another confirmation that I would take is that it has hit the Weekly Key Level Low.
To go long (BUY), I would suggest to go for 20 PIPS when the market opens and then see if the movement continues upwards. If it does you can continue to go long.
Disclaimer: These are only an idea or a point of view of what will happen in the market. Please do your own analysis for more confirmation and do not copy blindly. I will not be responsible for any losses if you follow the idea. These ideas are meant for sharing and learning for those who are still new and learning like me. Please manage your risk-reward accordingly as it is very crucial. You are allowed at any moment to leave any comments below as those comments will be taken as a learning point or reviews. Trade at your own risk and good luck.
To go long (BUY), I would suggest to go for 20 PIPS when the market opens and then see if the movement continues upwards. If it does you can continue to go long.
Disclaimer: These are only an idea or a point of view of what will happen in the market. Please do your own analysis for more confirmation and do not copy blindly. I will not be responsible for any losses if you follow the idea. These ideas are meant for sharing and learning for those who are still new and learning like me. Please manage your risk-reward accordingly as it is very crucial. You are allowed at any moment to leave any comments below as those comments will be taken as a learning point or reviews. Trade at your own risk and good luck.