AUDCAD BAG
Ladies and gentlemen, this is random but I see something in the works. I typically cut up on randoms like I did when I was first learning about forex early 2020. I don't know if I keep posting but it doesn't hurt to stay sharp you know. Anyways I have here AUDCAD in its natural habitat. Price is ugly Bearish off the Monthly and the Weekly but supports seem to be demonstrating a magnet effect. Looking at this week price gapped down Sunday opening at 0.89558, pushing up only to drop down to 0.89418. Going into Monday and Tuesday price started to break dance (trade at your own risk ;) up to a LTF resistance of 0.89896 just to descend and love tap 4H support around 0.89500, double bottom, and rocket up to Daily resistance around 0.90250. I'm tired and I didn't even trade it. If you zoom out, I see a controversial inverted H&S on the Weekly but a nearly valid H&S on the Daily with a 4H double top. Buyers' exhaustion on the last two Daily candles in addition to HTF structure. I'd like to see a break of 0.89450 with a possible retest. Until then I'm keeping my mouse clean if you know what I mean. Happy Trading!
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