Will AUDCAD print a bull flag or continue the FALL?

2 Sep

AUDCAD

On the higher time frame price shows a strong uptrend on this pair. With the current condition, we may be in for another impulsive move. The question is will the trend continue or will the market pull back? Looking at structure in this area as long as the highs are not broken there is a good chance that we will see a slight pull back before the continuation of this uptrend.

Depending on the strength of the momentum when price retests the highs, we could also see the formation of a Bull Flag. To be safe wait until price breaks above the highs with multiple candles closing for confirmation. Then we'll wait on the retest to enter a Buy.