AUDCAD Onwards and Upwards ?

Good Evening / Morning Dynamic Traders

“Better to have tried and failed, than not tried at all”

Cross = AUDCAD Daily below (Courtesy of Advanced Get / E Signal)

Last week saw a breather in the previous moves with the trend, and with it presented new opportunities.

If your trend has pulled back, then we need to look for either a pullback strategy or a new BOB. Pullbacks can be considered "aggressive" to enter a trade as we have not confirmed that price has or is returning to its trend. We have a number of tools in our bag that should help you with this decision and try to stack the odds in your favour, your Dynamic Trader Training will have taught you these.

The AUDCAD has been in an uptrend since July 2009 if you look at its weekly chart and we have had 5 opportunities to enter this trade since the start of the year with our BOB tools. Long,medium and short term bias are all bullish and momentum is also currently in our favour. The only fly in the oinment is that price is currently testing a previuos resistance level just short of the 1.07000.

Strength through this area will push price into new untested areas.

Remember the trend is your friend.