Further to my earlier pattern on the AUDCAD Four Hour, this chart contains some additional confluence and a potential increase on the already good 1:2 Risk to reward.
Price has been travelling in an upward channel for the past year. It has only broken the 0.50 resistance once in the past year. Currently heading towards 'D' point of the and to the bottom of the channel. We have have two upward breakouts of the channel. If price reverses at 'D' point or after we could be looking at a third potential breakout and higher returns.
Do let me know of any thoughts.