AUDCAD - In Bearish Trend (ABCD Bullish reversal Harmonic)AUDCAD is in bearish trend. I have applied ABCD Bullish reversal Harmonic on the pattern but also a Continuous Pattern of Bearish Flag can be applied as well. I have done this analysis on 1H time frame but took a trade on 15m time frame. No or not a strong divergence is observed from C to D. I have placed a pending order of Sell Stop.
The Signal is:
EP: 0.91866
SL: 0.91973
TP: 0.91650 (1:2)
RR: 1%
Lots: 0.30