HEAD AND SHOULDER in a RISING WEDGE <3
AUDCAD is forming a head and shoulder pattern inside a rising wedge.
Approaching its daily dynamic resistance, it has made a "hanging man" candle which is a sign of rejection from the top.
At the same time, AUDCAD has already passed EMA 9 20 and 50 which is a good sign for selling.
If 0.8840 will be broken, this may start a 100 to 200pips drop for the bears.
Do you agree? Please do leave a comment. Thank you.
AUDCAD is forming a head and shoulder pattern inside a rising wedge.
Approaching its daily dynamic resistance, it has made a "hanging man" candle which is a sign of rejection from the top.
At the same time, AUDCAD has already passed EMA 9 20 and 50 which is a good sign for selling.
If 0.8840 will be broken, this may start a 100 to 200pips drop for the bears.
Do you agree? Please do leave a comment. Thank you.