AUDCAD short term set-up
AUDCAD is in a bearish trend on the 1 hour time frame and I will be looking for a sell trade after a minor consolidation on the 15min time frame. This might result in another break on the 1 hour time frame as well. If we reverse after another leg lower we should be looking for the bullish break although I favor a move lower for now.
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Trade closed: target reached
My target was the previous low, however this was a conservative target.
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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.