Hi
I am baised Long on AUDCAD. It made two trends and breakout on H4, both can be viewed in black and Blue wedges. Here is my analysis
i. AUDCAD was in downtrend, it made wedges (8Jan to 14 Jan on H4) then breakout (15 Jan on H4) and retesting (17 Jan on H4) as well but it did not make significant drop which shows weak down trend.
ii. AUDCAD made wedge on D1 scale as well, broken and now it has completed the retesting, that is why I believe it will go long.
I am baised Long on AUDCAD. It made two trends and breakout on H4, both can be viewed in black and Blue wedges. Here is my analysis
i. AUDCAD was in downtrend, it made wedges (8Jan to 14 Jan on H4) then breakout (15 Jan on H4) and retesting (17 Jan on H4) as well but it did not make significant drop which shows weak down trend.
ii. AUDCAD made wedge on D1 scale as well, broken and now it has completed the retesting, that is why I believe it will go long.