AUDCAD - From Shorts to Potential Longs!!Earlier in this range, we sold ๐AUDCAD near the upper boundary, fading resistance as price showed clear exhaustion. That idea played out well, with price rotating back into the middle and now pressing toward the lower bound of the range.
This is where things shift.
โ๏ธAs long as range support holds, the bias flips from selling rallies to looking for longs from support. In a well-defined range, edges matter more than direction, and the lower boundary is where buyers historically step in.
The plan from here is simple and disciplined.
No chasing. No guessing....
๐นIf price holds above support and shows bullish reaction on lower timeframes, longs become valid back toward the range highs. A clean breakdown below support would invalidate this idea and put sellers back in control.
Range trading is not about prediction, itโs about location and reaction.
Will buyers defend the floor once again, or is this range finally ready to break? ๐ค
โ ๏ธ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
๐ Stick to your trading plan regarding entries, risk, and management.
Good luck! ๐
All Strategies Are Good; If Managed Properly!
~Richard Nasr
