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AUD/CAD Trading Analysis (28/10/2024)

28.10.2024

Market Review

The downward wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition. The reverse model 'Boguraev's Matryoshka' is forming.

Trading idea:

Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the descending truncated structure.
Stop-loss at 0.9148.
Price targets at 0.9280 and 0.9372.

#audcad #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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