Fxprotrader

AUD@ Too Many Factors For Sell Off

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
Very powerful potential short setup in AUDCAD.

Reasons:

- Bearish Gartley pattern
- Bearish AB=CD pattern with D point exactly at the same as gartley's
- Key horizontal resistance zone (purple zone in chart)
- Elliott wave cycle 5-3 completion
- Overall trend is a downtrend

If price reaches our gartley's D point at 0.786 then we'll have a high probability short setup with all the above reasons opening the doors to a sell off.

Like and comment,
John


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.