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Leo-btm
Dec 8, 2022 9:09 AM

AUDCAD, is it time to short?  Short

OANDA:AUDCAD1W
AUD/CADOANDA

Description

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AUDCAD / 1W

Hello traders, welcome back to another market breakdown.

AUDCAD has been pulling back for weeks now after tetsting the low of teh channel. The market is approaching the uper side of the channel where bears might show up.

I'll be looking for a lower time frame confirmation to go short.

Trade safe.
Trader Leo.

Trade active

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I got stopped out at Breakeven.

Comment

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The setup is still in Play on the weekly chart.

Comment

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AUDCAD / 4H
Chart update with important levels to watch for.

Trade active

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I have closed my position for now. I'll wait and see if bears can break support again.
Trend AnalysisHarmonic PatternsChart PatternsAUDCADForexbtm
Comments
KlejdiCuni
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taking in consideration how the market is reacting it should work out pretty well.
Leo-btm
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@KlejdiCuni, Yeah that's for sure
Robincom
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@KlejdiCuni, meaning it will go up or down?
Leo-btm
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@Robincom, Watching for the zone to short. My aggressive play would at 0.92460. Stop is just 40 pips away.
aryansinghnew1
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I'm running in losses by doing stupidity of buying at .83692 can I expect price will be bullish enough that I'll have to face small loss?
Leo-btm
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@aryansinghnew1 if you bought long you had a chance to get out today
MaxTang94
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is this set-up still a posibility?
Leo-btm
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@MaxTang94, So, fgar not looking good for the bears.
aveesahadewexcell
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is this setup still valid?
Leo-btm
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@aveesahadewexcell, Watching for the trend line, still didn't touch.
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