pppdirhams

AUDCAD (1H) OUTLOOK - BEARISH

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
Good Morning Friends,

Am taking a good look at AUDCAD (1H)πŸ”₯πŸ”₯πŸ”₯

AUDCAD price currently is playing inside a flat bottom triangle, and price is correcting/heading to touch the trendline from where seller will step in to push price down to 0.91043 area (lower bounds of our flat bottom triangle).

MACD (1D) clearly indicates that sellers are still present and willing to deal. MACD (1H) confirmed this as there are not buyers present at all.

Entry would be idea if price kisses the trendline, with STOP LOSS at 0.92134, TARGET at 0.91043
RRR of 1:3.42 (25.0:85.5 pips)

I will update here if anything changes

PLEASE LIKE AND COMMENT, ALSO FOLLOW ME FOR MORE
Trade closed: stop reached