AUDCAD - Range trading

PAIR IN FOCUS: AUDCAD
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

Price has temporarily broken upwards of the range, but has since dropped back into it. Looking for a retest of the upper bound of the range again, and bearish price action to confirm bearish bias. If the price rockets above the range, it will likely hit SL. Since AUDCAD is a ranging pair, this set-up will take time to play out.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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