AUDCAD short term set-up

10 thg 5, 2016

AUDCAD is in a bearish trend on the 1 hour time frame and I will be looking for a sell trade after a minor consolidation on the 15min time frame. This might result in another break on the 1 hour time frame as well. If we reverse after another leg lower we should be looking for the bullish break although I favor a move lower for now.

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12 thg 5, 2016

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My target was the previous low, however this was a conservative target.