Mike_Bocon

AUDCAD shorting ideas

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FX:AUDCAD   澳元/加元
6
Hey guys, in my opinion, we have some reasons to short this pair. We have a possible flat as well as a possible double top forming, both indicating shorts. I am expecting price to correct completing a smaller Head and Shoulders pattern which would give me another reason to go short. Weekly RSI and Stochastics are at over bought levels, which also suggests going short. As well as a moving averages crossing bearish (10 and 50 period SMA). Also a pretty nice R:R. I will only consider selling after a correction forms and price does not make a higher high.
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