AUD/CAD might be a good pair to keep an eye on for a potential long trade
The bottom of the channel and an area where there was a very bullish weekly candle is about 60 pips below the current price. Will monitor.
I am not saying trades taken based on a weekly chart where larger moves are expected should be managed on a lower time frame chart.
However, levels from larger time frames can provide good areas to get in for a shorter term bounce.
Along with many financial assets this pair moved higher after the FED decision. There is a breakeven stop loss in place. Also, an aggressive Take Profit order we can adjust if the strength persists and we aren’t stopped out.
Charts101 Trading 