Monday, November 12, 2012

AUDCAD Wedge Trade AUDCAD Short Trade
Pair AUDCAD is making a sharp upside triangle wedge on H1 chart. Normally this wedge denotes a over brought situation.

Some time back I have observed same type of sharp upside wedge in NZDUSD and pair plunged right after breaking the down trendline.

Price looks over brought on daily chart as well and I will be trading only short trade on this pair. I plan to go short on touch of upper trendline and also on the break & daily close below of lower trendline.

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