Possible short trade set up via ending diagonal

FX:AUDCAD   Australian Dollar/Canadian Dollar
Neither of these two are particularly long at the moment but given the trend on the higher time frame I don't see any reason for it to change. With that in mind the recent push up is looking like an ending diagonal with divergence on the MACD . Keep an eye out for a short trade with the diagonal as a entry set up. Timing is every thing with this so don't jump in short too soon. I don't usually give targets but in this case the previous low seems perfectly achievable.

I'll up date this idea as it develops
This is not investment advice

Steve Nixon
Trainer & Mentor
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