AUDCAD rejected at resistance and headed lower.

31 Dis 2021

Since it's multiyear high in Feb, AUDCAD created lower lows and lower highs in April and has continued bearish ever since with a string of consecutive lower highs and lower lows.

We have 2 clearly defined and repeatedly respected trendlines headed lower, created a broadening descending channel.

Price has has multiple attempts to break through this resistance since December 23rd and has failed, most recently with a tweezer top.

Overall this looks like a great opportunity for a high R short with a stoploss above the trendline/tweezer high.


This is not financial advice, you are responsible for your own trading decisions.

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