Short

Trade Ideas Educator: AUDCAD Shark

The red lines that cut across the chart is the 4-hourly chart inverted descending triangle, not a typical setup I will trade for a breakout but surely a great reward: risk trading opportunity.

So, if you going to sell, where will be an even better price to engage the trade?

I head into 1 timeframe lower, the 1-hourly chart and spotted a potential bearish shark formation. It surely provides a better reward: risk but if it doesn't happen, I will wait for a break below and close below of the support line(red horizontal line) follow by a retracement to short the market.

What's your trade plan?

RaynLim

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RaynLim

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