we have two trendlines plus a wedge so its going short . high risk reward ratio
usdcad had broken out of a rising flag and the general trend is bearish. this flag is having a retest on the flag and a resistance line . a long term sell setup . we wait for confirm candle at day close .
audusd short term bullish due to wedge and completing 5th elliot wave . looking on the bigger picture we see a broadening ascending wedge therefore it will eventually short . lets keep our eyes open peace
nice short seeing that wedge and downward trendline .
as we can see the pairs formed a rising wedge on the hourly time frame. there is also confluence with the resistance line which can be seen even on H4 time frame .
price has been generally bearish and now formed a rising wedge in consolidation ,its a reveral pattern and now l look to short.
we trade short . trendline plus gap being used as resistance