AUDCAD Buy Idea From The Bottom Of The Channel

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AUDCAD Critical Zone Provides Buy Opportunity

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Hi Traders! We have AUDCAD buy idea from the bottom of the channel. A detailed analysis of this bullish opportunity is as follows:

AUDCAD H4 Chart:

On the H4 chart the price is moving inside a channel, this channel is formed by the highs and lows reaching parallel resistance and support zones. We also have a critical zone that has formed which coincides with the bottom of this channel. The price which is respecting this channel so far has currently reached the bottom of it, if we didn’t get a valid breakout here we may then expect the price to respect this bottom of the channel and move higher again. In addition to this we also have a bullish hidden divergence that has formed which we may consider as an evidence of bullish pressure. We may now look for more bullish evidences on lower timeframes in order to start looking for buys.

AUDCAD Buy Idea From The Bottom Of The Channel

 

AUDCAD H1 Chart:

On the H1 chart we have a bullish divergence that has formed which we may consider as an evidence of bullish pressure. We may now look for more evidences of bullish pressure in order to join the bulls.

AUDCAD Buy Idea From The Bottom Of The ChannelNote: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

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Yours to your success

Vladimir Ribakov

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Barry
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Barry

Thank you Vlad…I am really impressed with your mentorship. God bless you man!

Vlad
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Vlad

Thank you very much Barry!

Mark S
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Mark S

Thanks guys

Vlad
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Vlad

You are welcome Mark

Henry
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Henry

Very helpful Vladimir. Keep up the good work!

Vlad
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Vlad

Thank you Henry

Ivan
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Ivan

Thank you Vlad for the analysis. Making use of your ideas and I believe I keep improving.

Vlad
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Vlad

My pleasure Ivan. You are improving every time!