Comdoll traders gather ’round!
Don’t even think of missing these setups, yo!
Can AUD/USD extend its uptrend? Buying at current levels would still get you a decent reward-to-risk ratio especially if the Aussie makes new September highs against the dollar.
What do you think? Where will AUD/USD go next?
I spy with my eye a hot cup and handle on EUR/CAD’s daily!chart pattern is to buy as soon as the price breaks above the “handle” that represents the downswing action marked on the chart.
If you’d rather wait for confirmation on the bullish trend, then you can also place orders above the “rim” of the cup, which in this case lines up with the 1.6000 major psychological handle.
Cup and handle breakouts are usually as strong as the distance between the “bottom” and the “rim” of the cup. That’s about 900 pips, yo!
Whichever bias you end up trading, make sure you’re aware of EUR/CAD’s average daily volatility so you don’t expect to gain (or lose) bajillions of pips in one day!