Possible AUDCAD Long idea.
I would set TP at the 0.618 FIB level or the 0.5 Fib retracement with SL set at a channel breakout.
- Confirmation on the 4hr of general bullish trend
- Ascending channel
- Confirmation of channel by an engulfing candle
I would set TP at the 0.618 FIB level or the 0.5 Fib retracement with SL set at a channel breakout.