AUD/CAD Bearish Trend Trade
This pair some some strength for eventually trailing downward last week.
We don't have a kumo twist yet but we are approaching the bottom of the kumo here and I will be looking for a chance to short when/if we get a bearish breakout.
I've drawn my entry line at a level that corresponds with an important price level and a flat kumo area.
If we break that level we should continue downward to possibly test recent price structure lows.
I've drawn out a few partial take profit levels to aim for along the way as well. If we fail to get a bearish breakout, or if our confirmations change back to bullish, this setup may become invalidated
We don't have a kumo twist yet but we are approaching the bottom of the kumo here and I will be looking for a chance to short when/if we get a bearish breakout.
I've drawn my entry line at a level that corresponds with an important price level and a flat kumo area.
If we break that level we should continue downward to possibly test recent price structure lows.
I've drawn out a few partial take profit levels to aim for along the way as well. If we fail to get a bearish breakout, or if our confirmations change back to bullish, this setup may become invalidated