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msohaibkhan

AUDCAD - Bearish trend to continue

Short
Australian Dollar/Canadian Dollar (PEPPERSTONE:AUDCAD)  
msohaibkhan  
PEPPERSTONE:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns
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trendanalysis harmonicpatterns chartpattern
It has made a series of LH and LL, forming a bearish trend. Trendline and 0.382 Fibs are too close, hence we have a confluence. Price has once tested the 0.382 fibs already, is approaching to test it again. Suggesting to enter the trade at the test of 0.382 fibs, with SL at previous LH and TP 1 & 2 at 1:1 and 2:1 R/R ratio respectively. Also, no RSI divergence is detected, so the continuation of the trend is further confirmed.
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