AUDCAD Wedge Trade

AUDCAD H1

This is in continuation to my previous post [here]. 

Price is bouncing from the lower trendline of the wedge. Since the wedge is not much wide, so I will not trade pullback from trendline. I would prefer to trade breakouts. 



I plan to go short on break & hourly close below the lower trendline. Or I will go short on touch of upper trendline. Stop will be daily close above the upper trendline.

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AUDCAD H1

UPDATE ON 13-NOV-12 16:15GMT: Price is touching the upper trendline of wedge, my short entry area. 


I went short at 1.0448 for a possible move towards the lower trendline.