AUDcad Short H4 Double Top
Seeing that AUDcad seems to be failing to close above recent highs.
It appears that AUDcad was losing bullish momentum.
COT data reported a weakening AUD and a strengthening CAD.
Market came to test dynamic Daily Resistence. The test seems to have apprached the resistance in a rising wedge/flag correction. The top of this inner corrective channel formed a Double Top on the H4/H1 timeframes at its own resistance trendline. This appears to be enough confluence to consider selling AUDcad at this point.
Use the discretion of your own entry strategies to confirm any possible entry opportunities that you may find. as for me.
It appears that AUDcad was losing bullish momentum.
COT data reported a weakening AUD and a strengthening CAD.
Market came to test dynamic Daily Resistence. The test seems to have apprached the resistance in a rising wedge/flag correction. The top of this inner corrective channel formed a Double Top on the H4/H1 timeframes at its own resistance trendline. This appears to be enough confluence to consider selling AUDcad at this point.
Use the discretion of your own entry strategies to confirm any possible entry opportunities that you may find. as for me.
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