$AUDCAD: Short Trade Opportunity

Friday, January 3, 20140 comments

Potential H&S Continuation pattern in this down trend. Price broke through the neckline and looks to be retesting it now, making the level a good area to short.

Target comes in at/around 0.912.

RSI makes a high at 77.92 (which marks the head). Stops to be a few pips above the right/left shoulders.

Alternatively, wait for price to get into the area between 0.95894 - 0.96744 region for entry based on your indicators.

Use your own methods to this.. MACD or Stochs cross-over for entry.
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