AUDCAD is fast approaching the 2016 high of 1.0116. There is also another strong resistance at 1.0166 from December 2015. (This is the 2015 high)
It is good to see a bat pattern coming up at the same level. The trend is still up, so I am cautious about taking the trade now. I would like to see the high being challenged and a H4 candle being rejected before taking the trade