Currently im waiting for a reversal candle to form on the 1h at the 1/4h 50 ema.
Price is in a triangle and is having a small pull back before it carriers on down to the upwards trend line.
I'd hope to see this form with in the next 2-3 hours
AUDCAD is reacting at the key weekly level. The daily isn't the best but we can see a break down on the 1h chart. I'm looking for a pull back to the 1h 50 ema and hoping to enter with a 35 pip stop. I want to take this trade down to the daily 50 ema which will come up to around 1.0155 area in the next few days.
Video to follow
The weekly has presented a double top on the right shoulder at a key level.
The daily is a little messy but looking at the 1h we can see why.
The 1h has created a triangle with a fake out on the 16th. Now im looking for a retest of this pattern along with the 0.869 level and 1h/4h 50 ema.
The stop is above the downwards trend line and exit is just by the...
Price has started a short term bearish pull back on the daily and i feel it can head down towards the 4h 50 ema. So a pull back on the 1h chart to the 1h 50 ema would be good to see with reversal candles. If that happens then i'll happily take short and get out before the 4h50 ema.
