On a live stream today we discussed a potential short trade on AUDCAD: the pair is currently approaching a strong daily structure resistance.
On an hourly time frame, the price is coiling. I spotted a tiny head and shoulders pattern. 0.932 - 0.9327 is its neckline. Wait for an hourly candle close below that to confirm a breakout. Then short aggressively or on a retest.
Your intraday goals will be 0.93 / 0.928
If the price sets a new high on hourly, the setup will be invalid.
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