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edramlan
Dec 24, 2018 10:58 AM

AUDCAD Short. Short

FX:AUDCAD1D
Australian Dollar/Canadian DollarFXCM

Description

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Why I think it is bearish:


  • The pair seems to have created a head and shoulder pattern.


  • Neckline was penetrated a few days ago with a huge bearish outside key reversal candle.


  • Price retested support and failed with the appearance of a bearish key reversal.


  • Already short the pair at 0.9584.


  • Price might go lower towards 0.9145 area.

Happy holidays!
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Trade closed: stop reached

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Standing aside for now. Probably it will be consolidated for a while. It might be that this will turn bullish instead.
Trend AnalysisChart PatternsAUDCADaudcadshort
Comments
lehlogonolo
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this move can last for the next two weeks
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