AUDCAD: The Trade Before The Trade

Last night I discussed the AUDCAD in a video that I put out for my Syndicate members. We had previously earned some pips on a a bearish Bat pattern, but the market never really ran too far way from this general area.

What caught my attention was the series of higher lows and the fact that we finally achieved a LLLC as on last nights analysis. I didn't have a chance to hop on the trade because of a little something called needing to get sleep, but I told them that breaking those lows was the 1st sign of a bearish rotation.

This morning we see that the market has put in a continuation move down and now I'm looking for another chance to hop on this newly formed trend. The ebbs and flow of this recent move has also set up the 1st 3 legs of a bearish Cypher pattern. Although this pattern doesn't yield enough profit for me to take it as a pattern can can look at it as a way to hop on the trend continuation move and ride it down to previous structure lows and/or the next bullish cypher.

Akil

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