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timmynorin
Apr 18, 2017 4:40 AM

AUDCAD 4h short setup 

Australian Dollar/Canadian DollarFXCM

Description

Structure, trend line, and a fibo 0.618 are all fighting together for me on this one.

I will watch closely and keep trailing tight after passing 1.0 down at target two.

For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.

Comment

A follow up trade to this idea based on price failing to close above monthly resistance, which can be seen on above chart aswell,, turned into a very successful short:

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