I can imagine that AUDCAD can be pretty volatile at the entry-level we are looking at. For this setup to be valid, the earliest for this to form is on Tues, 8Dec2020 6 am (+8GMT), anything earlier than that I'm going to scrap the trade. A retracement back to 0.9525 before the formation of the bullish butterfly pattern would be ideal for traders to head in for a shorting opportunity for trend traders.
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🕒 15mins workday for Young Parents
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.