AUDCAD Short Trade Setup

OANDA:AUDCAD   Australian Dollar/Canadian Dollar
Hello traders.

I think putting an entry order below last bottom can be good idea. My first target is the completion of same size correction as 4th wave. If you look at the daily chat below, you can see the real reason of this trade, which is a possiblity for big down impulse after running flat. My idea is taking the trade, moving stoploss to breakeven and leave it alone in order to see its potantial. As long as it stays below red line, I will look for only short trades.

If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.

Trade with care...
Order cancelled: It broke previous top with strong momentum. I removed my entry order. I'm still waiting for short trade setups.
Idea looks great! Was hoping for some divergence
WaveAnalysis NateTheGreat7
@NateTheGreat7, Thanks. I hope it will work well. We have 15m and 5m divergences. They can be enough. We will see.
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