AUDCAD Long Trade Setup

8 Jul 2021

My annotations indicate my main expectation, but there are some other options for the completion of the correction. Then we should see a big upward impulse. Now, I'm waiting for a new low (purple B) and a reversal structure to take a long trade. I do so because the new low can be the end of the correction. If I see any chance for one more downside after the purple C, I'll hedge my trade, otherwise, I'll just move SL to BE.