AudNzd formes an inverted head and shoulders, then rejected the neckline...
Price now appears to have formed a bearish triangle and could possibly break out on the 4h time Frame..
I am considering a short position if price breaks out
UsdCad's on the watchlist today,,
Break of the channel and currently re-testing,
I'm going to wait for the 4h candle close before deciding on a trade,
We have 2 target options,,
TP1 - daily ema around 90 pips
TP2 - top of the chanel (long term)
We had a barish impulsive move away from the monthly TL
Price then entered a correction period before breaking out to the downside
We then whitnessed another short correction period before another break and a bearish push to the underside of the 1h 200ema
This trade looks really good, but this is forex and anything can happen.