AUDCAD trend continuation, 115 pips short.
Hi guys,
As you can see that AUDCAD has broken below the support level and pulled back nicely to that support level. I'll be looking for a bearish engulfing candle to enter short and expecting the downtrend will resume and my first tp will be at next major level which I have marked alongside sl.
However, should we not see a bearish engulfing candle then this setup will be invalid and no trade shall take place.
Let me know your thoughts. Trade safe and good luck.
Cheers,
B
As you can see that AUDCAD has broken below the support level and pulled back nicely to that support level. I'll be looking for a bearish engulfing candle to enter short and expecting the downtrend will resume and my first tp will be at next major level which I have marked alongside sl.
However, should we not see a bearish engulfing candle then this setup will be invalid and no trade shall take place.
Let me know your thoughts. Trade safe and good luck.
Cheers,
B