AUD-CAD HAS BEEN ON BEARISH TREND (STARTING POINT AT BEGINNING OF AUGUST-2020). CURRENTLY CHART IS IN PULLBACK / RETRACEMENT PHASE, WHERE IT IS ALSO FORMING BEARISH BAT PATTERN ON H-4 AND HIGHER TIME FRAME.
WHICH GIVES US SELL OPPORTUNITY AT PREVIOUS STRUCTURE RESISTANCE. ADVANCED PATTERN COMBINED WITH CURRENT TREND ADDS MORE CONFIRMATION TO BEARISH TRADE.
SELL ENTRY: 0.9543
STOP LOSS: 0.9626
TARGET-1: 0.9430
TARGET-2: 0.9360
LONG TERM TRADERS CAN HOLD THEIR PARTIAL POSITION UP TO RE TEST OF PREVIOUS STRUCTURE SUPPORT/LOW AROUND 0.9250.
WHICH GIVES US SELL OPPORTUNITY AT PREVIOUS STRUCTURE RESISTANCE. ADVANCED PATTERN COMBINED WITH CURRENT TREND ADDS MORE CONFIRMATION TO BEARISH TRADE.
SELL ENTRY: 0.9543
STOP LOSS: 0.9626
TARGET-1: 0.9430
TARGET-2: 0.9360
LONG TERM TRADERS CAN HOLD THEIR PARTIAL POSITION UP TO RE TEST OF PREVIOUS STRUCTURE SUPPORT/LOW AROUND 0.9250.