KVE
Short

AUD/CAD: Another harmonic pattern?

FX_IDC:AUDCAD   AUSTRALIAN DOLLAR / CANADIAN DOLLAR
109 0 10
a year ago
I kinda forgot about this pair for a couple of weeks which I now regret since we had several harmonic patterns which developed and did what they were supposed to do...

It all comes to the fact that we are in a consolidation phase I believe within a large triangle structure.
Now, at some stage this structure has to break but I'm hoping we get one more chance to trade a possible bearish bat, as drawn in pink on the chart.

2 typical trades are on the chart, SL above X of the bat and above the previous high and X of a previous smaller bat.
2 typical bat targets, a third and small part could be left open in case we get down to that lower trendline (if below curent target 2).

a year ago
Comment: Trade open, in loss for the moment but reversal could be iminent. AUD might get a good correction, in line with this bat, and then it will probably continue it's move up!

We never know of course, it's wait-and-see what happens next...
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