AUD/CAD: Double break out
Australian Dollar/Canadian Dollar show today a weakness in the trend what I think that this will be a sell inminent.
So guys, firstly, I want to share all screenshot that you can to learn here this strategy what I found out in this Forex par.
Fist, in H1 timeframe, we see a double break out. So, we see the following:
We are in the key yellow resistance reaction in that zone and also we forming an ABCD bearish pattern and also a higher high in the price action and higher low in the RSI indicate a change of trend.
Also, you can to note very clear that we forming this bearish channel flag pattern and also the break out and retest in that zone making in the price higher low right now. But, you should to note that AUD/CAD has a measure to formin an ABCD bearish pattern, it's the 0.382% Fibonacci.
And then, measure the 2nd Fibonacci for Harmonic, the price that stop was around in the level of 1.619% Fiboancci level. All of them, it's required to complete the minimum measure in the ABCD bearish pattern.
So guys, technically I'm very enfocous what happen in H4 and H1 timeframe that we forming a double break-out very surely to entry to a sell in AUD/CAD. Also, I share in the green box the targes that I consider in this position with pips potential to earn. So, guys, I made an entry around $0.9392 CAD and I put my SL to $0.9427 CAD and also, I have my target to $0.9321 CAD to fulfill these targets if AUDCAD have success this trade.
Good luck!!!
So guys, firstly, I want to share all screenshot that you can to learn here this strategy what I found out in this Forex par.
Fist, in H1 timeframe, we see a double break out. So, we see the following:
We are in the key yellow resistance reaction in that zone and also we forming an ABCD bearish pattern and also a higher high in the price action and higher low in the RSI indicate a change of trend.
Also, you can to note very clear that we forming this bearish channel flag pattern and also the break out and retest in that zone making in the price higher low right now. But, you should to note that AUD/CAD has a measure to formin an ABCD bearish pattern, it's the 0.382% Fibonacci.
And then, measure the 2nd Fibonacci for Harmonic, the price that stop was around in the level of 1.619% Fiboancci level. All of them, it's required to complete the minimum measure in the ABCD bearish pattern.
So guys, technically I'm very enfocous what happen in H4 and H1 timeframe that we forming a double break-out very surely to entry to a sell in AUD/CAD. Also, I share in the green box the targes that I consider in this position with pips potential to earn. So, guys, I made an entry around $0.9392 CAD and I put my SL to $0.9427 CAD and also, I have my target to $0.9321 CAD to fulfill these targets if AUDCAD have success this trade.
Good luck!!!
Comment:
This it's my update of my previously analysis of there
