📌 Potential SELL setup for: AUD/CAD
👩🏽💻Technical: On a daily TF, the AUD price has crossed the 20-day and 50-day moving averages and is now trying to break through the 100-day moving average. This may suggest that there is selling pressure on the currency. However, it's important to note that the price is still moving within a channel on LTF.
🎯 For an ideal entry: To confirm a bearish bias, I suggest waiting for the price to break below the channel on the 4-hour chart, and also fully break the moving averages. Otherwise, no entry.
🎯 For an ideal entry: To confirm a bearish bias, I suggest waiting for the price to break below the channel on the 4-hour chart, and also fully break the moving averages. Otherwise, no entry.