AUDCAD BEARISH CONTINUATION SETUP
Hi Traders,
The AUDCAD has been carving a potential double ZigZag with flat X-wave after a strong five-wave bullish impulse.
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The price seems to be making a bearish impulse which is most likely wave (c) of Y and could signal the resumption of the bullish trend after the completion.
.
Considering, that the price has broken the corrective structure (b) of Y, the price has the potential to move down towards the target of C as planned on the chart.
.
We will look to sell at market open and stop loss above high of wave ii (blue).
.
What's your thought about AUDCAD?
Best of luck on the chart!
Veejahbee.
The AUDCAD has been carving a potential double ZigZag with flat X-wave after a strong five-wave bullish impulse.
.
The price seems to be making a bearish impulse which is most likely wave (c) of Y and could signal the resumption of the bullish trend after the completion.
.
Considering, that the price has broken the corrective structure (b) of Y, the price has the potential to move down towards the target of C as planned on the chart.
.
We will look to sell at market open and stop loss above high of wave ii (blue).
.
What's your thought about AUDCAD?
Best of luck on the chart!
Veejahbee.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.