AUDCAD has been bearish on the H4 chart. The price may have found support and started having consolidation. A level of flipped resistance is nearby. If the level holds the price and produces an H4 bearish reversal candle followed by an H4 breakout at the support, the sellers may find an opportunity to go short on the pair. Let us have a look at the H4 AUDCAD chart.
This trade idea was generated by our powerful Elite Swing Trader System.
Free Forex Trade Signals AUDCAD – 25th Oct 2019
The price headed towards the South and found its support at the level of 0.88990. It may head towards the North. The level of 0.89240 may hold the price and end up producing an H4 bearish engulfing candle. If the price continues coming towards the downside and makes an H4 breakout at the level of 0.88990, the sellers shall wait for an H1 consolidation followed by an H1 bearish engulfing candle to go short on the pair. The price may find its next support at the level of 0.88450. Let us have a look at the summary of the trade…
- Sell Stop Order: 0.89024
- Stop Loss: 0.89286
- Take Profit: 0.88612
Tip of the Day: It is the last trading day of this week. The price may take longer to consolidate. The signal may even come in the following week. As long as the resistance level holds the price and we get an H4 breakout at the support level, the trade setup is valid. Another thing is to remember that the Take Profit level is a massive level of daily support. The price may make an abrupt upward move once it hits the level.
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The post Free Forex Trade Signals AUDCAD – 25th Oct 2019 appeared first on Advanced Forex Strategies.
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