Home Polls & Quizzes AUDCAD: Double Bottom’s Neckline Breakout or Continuation of Down Trend?

AUDCAD: Double Bottom’s Neckline Breakout or Continuation of Down Trend?

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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

AUDCAD: Double Bottom’s Neckline Breakout or Continuation of Down Trend?

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