AUDCAD has been analysed on two time frames (1D & 1H). In 1D time frame, this pair is making a bullish flag without divergence. So, I did the marking of the bullish flag with purple trend line (Purple colour is my choice for 1D marking and analysis because it is the 2nd colour from right) to know the overall trend of the pair. Then I switched to 1H time frame and 1H analysis and that is the time frame I planned my entry. In 1H time frame the pair of course is in downward trend without divergence (this downward trend is due to the the FLAG of the bullish flag pattern). I planned my entry on the recent downward swing of the trend where it has broken an upward trend line as well as the Support line. There will be an upswing later (due to the formation of the 1D bullish flag and a possible breakout of the flag from where the trend could be in bullish trend in 1D time frame.
The Signal is:
EP: 0.90021
SL: 0.90465
TP: 0.89580
RR: 0.2%
Lots: 0.06