Here is a very nice formation on FX:AUDCAD
. The structure looks like this: After a quick rally up price decided to go sideways and during this process it made a broadening top pattern. Currently we have 5th touch on the trendline
structure and it is a good opportunity to go short. T1 is our target, but T2 could be reached as well if the price breaks the structure. If the price breaks up and closes the current shorting opportunity gets invalid.