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AUDCAD Potential Bearish Movement - setup forming
Australian Dollar/Canadian Dollar
Short
AUDCAD Potential Bearish Movement - setup forming
By TheSignalyst
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Apr 22, 2020
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Apr 22, 2020
AUDCAD Potential Bearish Movement - setup forming
we are waiting for a new swing low / blue dot to form around our lower blue trendline
and then sell after a momentum candle close below 0.89000
Reason:
1- Regular Bearish Divergence on MACD (in red)
2- Objective Wedge pattern forming (in blue)
3- Resistance / Supply zone from Daily
Three confluences are enough to consider Selling AUDCAD, after a break below 0.89000 (in gray)
AUDCAD
breakout
Chart Patterns
Divergence
forming
Technical Indicators
pattern
Supply Zone
Support and Resistance
Trend Analysis
Wedge
TheSignalyst
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