Not long to go until the markets open! here is a potential four hour short setup on AUDCAD for early in the week.
We have two possible entries for you!
First entry and the riskier one of the two is off the 50% fib level, ema and support now turned resistance, price could wick up into the 618 level before dropping!
The second and safest entry would be a break and retest of the small counter trendline.
if you plan on taking this trade then make sure you go down to the smaller timeframes 1hr/15mins and look for some nice rejection or engulfing candles!
if you don't get those rejection candles or the the Bulls are driving momentum then sit this one out!
1:5.42 RR with a 50 pip stop loss
useful? then why not join our free telegram group for more chart ups, entries and analysis - Links Below!
We have two possible entries for you!
First entry and the riskier one of the two is off the 50% fib level, ema and support now turned resistance, price could wick up into the 618 level before dropping!
The second and safest entry would be a break and retest of the small counter trendline.
if you plan on taking this trade then make sure you go down to the smaller timeframes 1hr/15mins and look for some nice rejection or engulfing candles!
if you don't get those rejection candles or the the Bulls are driving momentum then sit this one out!
1:5.42 RR with a 50 pip stop loss
useful? then why not join our free telegram group for more chart ups, entries and analysis - Links Below!