AUDCAD BEARISH CONTINUATION SETUP
Hi Traders,
The AUDCAD has been carving a potential double ZigZag with flat X-wave after a strong five-wave bullish impulse.
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The price seems to be making a bearish impulse which is most likely wave (c) of Y and could signal the resumption of the bullish trend after the completion.
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Considering, that the price has broken the corrective structure (b) of Y, the price has the potential to move down towards the target of C as planned on the chart.
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We will look to sell at market open and stop loss above high of wave ii (blue).
.
What's your thought about AUDCAD?
Best of luck on the chart!
Veejahbee.
The AUDCAD has been carving a potential double ZigZag with flat X-wave after a strong five-wave bullish impulse.
.
The price seems to be making a bearish impulse which is most likely wave (c) of Y and could signal the resumption of the bullish trend after the completion.
.
Considering, that the price has broken the corrective structure (b) of Y, the price has the potential to move down towards the target of C as planned on the chart.
.
We will look to sell at market open and stop loss above high of wave ii (blue).
.
What's your thought about AUDCAD?
Best of luck on the chart!
Veejahbee.
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