Fxprotrader
Short

AUDCAD: Double Top At Slide Parallel Of Median Line

FX:AUDCAD   Australian Dollar/Canadian Dollar
Price has formed a double top pattern at the slide parallel of an upsloping median line . The slope is pretty valid and we may start looking for sell setups in the lower timeframes. If you can afford a sl above previous swing you may sell the market now. At that level we have the 1.27 ext. level of previous short term upmove which adds to our selling thoughts
does this mean you are looking for entries on the daily candle or hourly candles?
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Lowest timeframe i use is the hourly.. Mostly i watch in the 4h and daily. But depending in your strategy you may go a slow as 15min..
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rist Fxprotrader
yeah i usually do hour, because all hour candles are theoretically the same, using candle strats can be harder on 4 hours, since the start/stop times can be different between brokers. I mean technically if you understand price action its all the same.

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Totally agree..!
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