📌 Potential SELL setup for: AUD/CAD
👩🏽💻Technical: Sellers are applying significant pressure on the price, as it trends below the MA's on HTF. Additionally, a daily candlestick pattern is currently forming and it appears to be a bearish engulfing candlestick. Meanwhile, on the 4-hour chart, the price is showing signs of aiming to break into a new low, further confirming a bearish bias.
🎯 For an ideal entry: To confirm your entry, it may be best to wait for a 4-hour candlestick closure. Once confirmed, you could potentially set your levels on the HTF previous bottom as a profit target.
🎯 For an ideal entry: To confirm your entry, it may be best to wait for a 4-hour candlestick closure. Once confirmed, you could potentially set your levels on the HTF previous bottom as a profit target.