AUDCAD Short Trade- 4 Hour

Randy BalcomTradesLeave a Comment

This trade is similar to the AUDUSD trade

The weekly trend has been moving down and price has pulled up into a resistance area

The daily trend is also down, price has also pulled into a resistance area and a hammer candle was formed

The BB_MACD is way above the bands on the daily chart

The 4 hour chart has a nice Dynamic Zone below price

IF the 4 hour creates a valid reversal pattern (See Dynamic Reversal Trade)

The entry would be below the 2nd leg @ .94168

Stop would be above the high of the third leg, which has not formed yet!

Target would be above .93199

 

 

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