Oztrade
Short

AUDCAD - 240M - BEAR CYPHER - BEAR BAT

FX:AUDCAD   Australian Dollar/Canadian Dollar
Hi All, I wanted to share another early prediction, here we have 2 advanced patterns depending on which you prefer to take we have multiple opportunities for a shorting position.

Cypher Blue - Bat Orange

I have noted the risk reward for both patterns. If we break past the B Legs and continue upwards you will notice in previous structure that we have a shelf of Support - If we break through then we may see price continue upwards.

We are hoping here that previous support becomes resistance and our pattern plays out.

If price continues upwards Cypher D Completion also presents AB=CD completion.

T1 and T2 - I have just used a base 38.2% and 61.8% Retrace from C-D legs - you may want to look at structure as well to base your targets around the retrace and structure.

Check your filters and happy trading.
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