Trading_Jazz
Short

Let's Sell a Necklace, catch a Bat or decrypt a Cypher ®

FX:AUDCAD   Australian Dollar/Canadian Dollar
IF=THEN lifestyle with FX:AUDCAD            

Below Monthly Support (MN1), expectations of a downward continuation move, eventualy forging a point C for a Bearish Shark around 0.87520, point C for a Bearish Cypher around 0.85654 or even further and completing a Bullish Bat pattern around 0.76322 giving us simultaneously a "new" Low since Feb09 and an eventual strong Buy opportunity.

At the same time, trapped at support (0.91278), IF we start to see the price trying to recover, the bulls in action, we can scout an eventual double bottom taking us to another eventual 2618 setup.
FOR NOW, with the recent bears pressure, expectations still on the bears side with a probable necklace breakout from H&S perfectly noticeable on weekly and daily chart .

BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD

SHARK:
Point B:
61.8% XA
Point C:
113% to 161% AB
Point D:
161% to 224% BC            
88.6% to 113% XC
Target:
38.2% to 100% CD

CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD

Ratios here:


Safe Trades;
Wow..it's a very interesting charting..hope it will work out ;)
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