FX:AUDCAD   Australian Dollar/Canadian Dollar
We have two possible options to enter a sell for this setup. Drop to the H1 chart and look for double wave up. At the end of the second wave if you notice a bearish divergence to complete itself with a good bearish candlesticks pattern – go ahead and sell. This is option one.

Second way to enter is to wait for the price to enter the sell zone (the range between the two horizontal lines), draw a trend line (blue dotted line) and once the trend line is broken, wait for the pullback and sell.

First method is a bit more aggressive as we are trying to catch the reversal from its very top but it is offering better risk:reward ratio (not always but most of the times). Second method is more conservative and I recommend you to stick with it! I mention the first option more or less for educational purposes.

Target 1 – 0.9830.
Target 2 – 0.9720.
Stop Loss – above last high created on the H1 chart.
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