AUDCAD - Head & Shoulders giving Short opportunity

14 Agu 2020

After being in an uptrend for sometime, we now see a head & shoulders pattern forming on the daily and 4H charts. This signals a trend reversal to the downside. Using fibs, it is likely we will see a retracement to either the 61.80% or 50.00% levels. Once this hits we can look for short entries.