AUDCAD after being very bearish on the daily chart, the price seems to have started having a pullback. The H4 chart’s price action shows that the price had a bounce at a level of support, so it may end up producing a double bottom.
As we know, it is to be considered a double bottom only if the neckline is breached. If the neckline is breached, the price will head towards the North by changing its direction. Otherwise, it may continue to head towards the South as it has been doing.
Let’s have a poll on
Scenario 1: The price will create a Double Bottom by making a neckline breakout
Scenario 2: The Price will continue to go towards the South
