AUDCAD Short Trade for 200+ pips

١٩ أغسطس ٢٠١٨

AUDCAD is making a retracement on its longer term downtrend move.

We are probably on W4 (red) on a larger W2 (blue) and even larger W2 (green). I expect pullback to be limited to W1 (red) bottom @0.96583. We also have a couple of trendlines that serve as resistance.

Target is minimum W3 (red) bottom @0.94178, but W5 (red) could extend a lot further.

١٩ أغسطس ٢٠١٨

ملاحظة

Forgot to mention that W1 (red) also coincides with 0.618 FIB from W2 (red) to W3 (red), which makes it a high probability resistance level.

٢١ أغسطس ٢٠١٨

ملاحظة

Price is close to reaching the entry target. Wave (b) (Orange) was probably completed at the Aug 17 dip (it reached 38.2% level).

I believe we are in the final leg of Wave (c) orange.

٣٠ أغسطس ٢٠١٨

تم حذف الأمر

Retracement only reached .50, so I didn't take the trade...