AUDCAD is drifting lower and it seems that very soon we might have equal legs down from the top. The target is near - approx 50pips away. Equal legs in itself are sometimes enough to get at least a small bounce but what makes this case interesting is that if we go a bit lower, then we might have a possibility, that the market is forming a Bearish 5.0 Harmonic Pattern. The possible Harmonic setup is far fetched right now, but still worth tracking.
I wouldn't go long if the necessary target to the downside is reached, but I would short if market reaches the Bearish 5.0 point D
Perhaps traders who use Harmonic Patterns on daily bases, could share their views here. Thanks!
I wouldn't go long if the necessary target to the downside is reached, but I would short if market reaches the Bearish 5.0 point D
Perhaps traders who use Harmonic Patterns on daily bases, could share their views here. Thanks!
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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.