AUDCAD HEAD AND SHOULDER BREAKOUTThere is a perfect short opportunity in AUDCAD pair as it has a Head & Shoulder pattern breakout.
CADAUD trade ideas
BULL FLAG - LONGLong term trend - LONG (Soon to change to short)
Current trend - LONG
Nature - CORRECTIVE PHASE
Pattern - BULL FLAG
Stoploss - 34 pips
Risk: Reward - 1:3
AUDCAD just waitHi, Thank you for clicking on my scenario. In this scenario, I see the formation of a channel pattern. The red line above is the resistance that keeps the price on hold to go up sharper, and the green line below is what keeps the amount going up and doesn't go bearish. Still, now the price has broken the green range meaning the trend from AUDCAD to Bearish and this scenario is supported by weekly or analysis using 1-week timeframe you can see below for weekly analysis + in weekly analysis there is also overbought RSI or above 80 for more details you can check below later for weekly analysis which I see here 4H timeframe, of course, The price of AUDCAD has broken the green line, and there is a slight pullback. We just need to wait for the next whether the SELL is confirmed or not to verify from this bearish, we have to wait for the CLOSE price below .94960, it can be confirmed bearish confirmed, and we open SELL for my target using 3 the target is 0.94347,0.93544,0.92741 for my Stop Loss use 0.95907
AUDCAD Waiting For reversalIn this scenario, I see that AUDCAD will reverse the direction of the trend in the trendline which is quite strong and can continue to be bullish in this scenario of the acquisition ratio up to 1:3 and this is good enough for trading positions although only touching the target 1 ratio in getting is 1:1 and this is not too bad, in the scenario, I do not use entry 1 buy but instead 2 entries 0.95400 0.95791
AUDCAD: WAITING FOR BREAKOUT DOWN !!Hi
After target an historical top the price will try to breakdown looking for a correction if break down the channel!!
Good luck!
